Malaysian Paper www.thesun.my RM1.00 PER COPY RM1 MONDAY MAR 25, 2024 SCAN ME No. 8486 PP 2644/12/2012 (031195) Grab a copy of newspaper @RM1 only to enjoy a special offer from Starbucks Putrajaya has concluded engagement sessions with states on proposed amendments to Syariah Courts (Criminal Jurisdiction) Act 1965, which include proposal to enhance penalties for syariah criminal offences. Govt wraps up Act 355 Act 355 talks Law review to enhance PwD rights Sabah MP presses for new airport GLOBAL MESSAGE ... Earth Hour participants using candles to illuminate their sand art on Saturday in Pulau Redang, Kuala Terengganu. – ADIB RAWI YAHYA/THESUN Report on hpage 3 Putatan parliamentarian Datuk Dr Marcus Mojigoh says instead of expanding Kota Kinabalu International Airport as stated by Transport Minister Anthony Loke, a new one should be built in Kimanis, 45km south of Kota Kinabalu, to accommodate increase in tourist arrivals. Under Persons with Disabilities Act 2008, employers obliged to provide equal opportunities and remuneration for similar jobs, and safe working conditions for persons with disabilities. Report on hpage 4 Poor awareness hitch to anti-HIV campaign Report on hpage 6 Insufficient education and outreach campaigns among main reasons very few at-risk individuals taking pre-exposure medication, which is easily available and highly effective, says expert Report on — page 2
MONDAY | MAR 25, 2024 2 READ OUR HERE /thesun Malaysian Paper State talks on Syariah Courts Act amendments concluded KLANG: The government has concluded an engagement session with states on the proposed amendments to the Syariah Courts (Criminal Jurisdiction) Act 1965 (Act 355), which include increase in penalties for syariah criminal offences. Minister in the Prime Minister’s Department (Religious Affairs) Datuk Dr Mohd Nai’im Mokhtar emphasised the significance of the involvement of states, as matters concerning Islam are rights granted to the states as per the Constitution. “Currently, syariah courts are empowered to impose maximum sentences of three years’ imprisonment, a fine up to RM5,000 or six strokes of whipping, for offences under the Islamic law. “This implies that under the oEngagement session with stakeholders on proposed changes significant as matters concerning Islam are rights granted as per Federal Constitution, says minister RAMADAN CHEER ... Foreign Minister Datuk Seri Mohamad Hasan presenting food items to an elderly group yesterday at Masjid Kariah Kampung Siliau in Rantau, Seremban. – BERNAMAPIC Do not treat Ramadan as any usual month, says PM KUANTAN: Prime Minister Datuk Seri Anwar Ibrahim wants Muslims in the country not to treat Ramadan as any other month but as a special month for them to increase their acts of worship. He said the Quran was revealed during Ramadan as a guidance for humanity, adding that Muslims should understand, appreciate and practise the teachings of the Holy Book in their daily lives. “Meaning, we must work more, our morals should be better and we must ensure that our values are enhanced to increase our taqwa (piety). “So, I hope that Ramadan will provide an opportunity for Muslims to set a good example, not shout at and be angry with people, punish, slander or insult others,” he said at a state-level Madani breaking of fast event at the Tengku Ampuan Afzan Mosque in Indera Mahkota here on Saturday. It was attended by Home Minister Datuk Seri Saifuddin Nasution Ismail and Pahang Menteri Besar Datuk Seri Wan Rosdy Wan Ismail. Anwar said a good Muslim has high morals, does not cheat and does not engage in bribery or stealing. “Ramadan provides us with tests, (so we must) ensure that we maintain our wisdom and morals, defend our values and integrity. “If you’re in business, conduct it ethically. Don’t seek excessive profits and oppress those under you. If you’re in administration, be trustworthy. If you are a leader, lead with honour.” Anwar added that Pahang maintains a good relationship with the federal government. “As soon as I arrived, I sought an audience with the Sultan of Pahang (Al-Sultan Abdullah Ri’ayatuddin AlMustafa Billah Shah). I came to show respect and gratitude to His Highness (for the excellent relationship forged) throughout his five-year rule as the Yang di-Pertuan Agong. “(Besides that, I received briefings from) the menteri besar and the Pahang government on the progress of projects and areas that need improvement, which the federal government should pay attention to.” Wan Rosdy, in his speech, said various vital matters related to state development were discussed during the briefing. “Many things were approved and considered. Two, three mosques were approved by the prime minister,” he said. – Bernama Expedite priority projects in Pahang: Anwar KUANTAN: Prime Minister Datuk Seri Anwar Ibrahim has expressed hope that the Economy Ministry and related ministries and agencies involved in priority projects in Pahang would give special attention and expedite them. “These projects are high-impact initiatives for the people, especially the people of Pahang, and they will enjoy the benefits in the long term,” he said in a post on his Facebook page. Anwar, who was on a one-day working visit to Pahang on Saturday, chaired a Pahang State Development briefing that was attended by Menteri Besar Datuk Seri Wan Rosdy Wan Ismail, members of the state Executive Council and department heads. Also present were Home Minister Datuk Seri Saifuddin Nasution Ismail, Chief Secretary to the Government Tan Sri Mohd Zuki Ali and Treasury Secretary-General Datuk Johan Mahmood Merican. Anwar said discussions were held on various development projects, including upgrades and construction of public infrastructure and facilities in the state, encompassing aspects of transport, utilities, housing, health and education. The projects include the upgrading of Jalan Pos Pos Sinderut and Jalan Sungai Koyan in Lipis, rural water supply projects for Kampung Kuala Sat, Kampung Pagi and areas in Hulu Tembeling in Jerantut, an elevated junction at Bukit Rangin, Jalan Kuantan-Chukai intersection, upgrading Pulau Tioman Airport in Rompin, upgrading the quarters at Tengku Ampuan Afzan Hospital, building a community college in Jelai in Lipis and a new road from Kuala Medang to Tanjung Gahai and Bukit Kota, Lipis. – Bernama Govt mulls cloud seeding operations ALOR GAJAH: The Armed Forces is ready to cooperate with the Meteorological Department to conduct cloud seeding operations should the need arise due to the prevailing hot weather conditions and lack of rainfall in the country. Deputy Defence Minister Adly Zahari said the Royal Malaysian Air Force is usually involved in cloud seeding efforts, but there have been no requests for such operations so far. “Our air assets are always ready, and if there are any requests, we will cooperate. We’ve previously been involved in cloud seeding operations in Sabah and the peninsula. “However, cloud seeding should take into account various weather factors such as cloud conditions and the wind before it can be carried out,” he said after a breaking of fast event in Durian Tunggal here on Saturday. Natural Resources and Environmental Sustainability Minister Nik Nazmi Nik Ahmad was previously reported as saying that his ministry would take several factors into account before proceeding with cloud seeding, due to its high cost and the need to prevent waste. – Bernama DPM lauds Civil Defence Force KUALA LUMPUR: The Civil Defence Force should focus on strengthening national resilience for the peace and well-being of all people in the country, said Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi. He said this was in line with the theme for its 72nd anniversary yesterday, which centres on integration – the very essence of the Civil Defence Service. Ahmad Zahid stressed throughout seven decades, the force had shown excellence and dedication as the frontline in disaster management and humanitarian services. “In my capacity as the minister and leader of the Civil Defence Force, witnessing the advancement of this organisation is a source of great pride,” he said in a post on his Facebook page. He said since 2015, he had recognised the force’s considerable potential as an agency that is increasingly connecting with the community’s needs and sentiments, Bernama reported. “Keep serving, keep contributing to the well-being of Malaysians. We extend our heartfelt appreciation to all Civil Defence Force members for their unwavering commitment and sacrifices.” current law, syariah criminal offences such as insulting religion cannot incur punishments exceeding these limits. As the minister in charge, I am working to amend the Act, which has not been revised since 1984,” he said when met at the Jalinan Kasih Yayasan Kita Anak Malaysia iftar event here He was responding to Umno Youth chief Dr Muhammad Akmal Saleh’s proposal to the Umno supreme council to file a motion in Parliament for enhancing penalties against those who insult the religion. Mohd Na’im said syariah, which applies solely to Muslim offenders, is being reinforced through amendments to the Act and would be presented after due process, Bernama reported. He said if non-Muslims insult Islam, the matter falls under the jurisdiction of the police, prosecution and civil courts. “If amendments are made to the 1965 Act in response to Akmal Saleh’s remarks, states will have the flexibility to modify their own enactments and syariah criminal laws to broaden the scope of punishment, particularly for those who insult Islam.” Mohd Na’im also said 14,000 asnaf students and orphans nationwide would each receive RM252 in school aid through the Taqwa-MAIWP Foundation’s Jom Ke Sekolah 2024 programme, amounting to RM2.1 million. He said this assistance, comprising school bags, stationery and cash, aims to provide relief and joy and alleviate the financial burden of parents.
MONDAY | MAR 25, 2024 3 KOTA KINABALU: Sabah MP Datuk Dr Marcus Mojigoh has reiterated that a new Kota Kinabalu International Airport (KKIA) should be built in Kimanis, in Papar district, some 45km south of here, and not merely expanded as recently stated by Transport Minister Anthony Loke. Marcus, who is also Putatan MP, was commenting on Loke’s statement in Parliament that there was no need to relocate KKIA and that expansion could be done at its present site. As the country’s second busiest airport, KKIA must be relocated to accommodate increase in tourist arrivals and rapid airport use, he added. “The proposed site in Kimanis has the right size and topography to build the new airport, which will create thousands of jobs for Sabahans, while infrastructure and facilities would be improved and increased. “Additional train services would also be provided to accommodate growing passenger numbers.” Marcus said with the Pan Borneo Highway nearing completion, traffic congestion can be overcome, while more high-rise middle-cost housing could be built to accommodate the city’s population, which has increased almost five-fold in the last 50 years. He added that additional housing is also required to accommodate the rural-urban migration which will take up the thousands of new jobs if the present KKIA, about 8km southwest of the city centre, is commercially developed. The increasing number of tourists means more hotels and other accommodations would also need to be built, contributing to a thriving economy. “Once the KKIA is relocated, its present site can be turned into a state government asset to woo investors and development from abroad, including the proposed Tanjung Aru Eco Development (TAED) area. Marcus said the ban on the construction of high-rise buildings in Tanjung Aru, Sembulan, Putatan and Kota Kinabalu will also be removed once KKIA is relocated. The fact remains that there is no room to expand KKIA at its present site, he added. To Loke’s contention that many people complained about the distance of about 40km-50km between Kimanis and Kota Kinabalu, Marcus said the federal minister was probably unaware of several matters. “If the KKIA is lengthened at its present site, Sembulan residents would have to be relocated and countless buildings demolished. If it is expanded to Tanjung Aru, then the people there would have to move out and the TAED project be cancelled. “Perhaps a bridge would be constructed over the Petagas River, which would mean Kampung Contoh and Petagas residents have to be relocated.” Marcus questioned those allegedly complaining about the distance and said priority should be given to the people and not passengers. “There are hospitals, schools, houses of worship, shops, malls, offices and residential areas near KKIA which have long suffered from the noise pollution caused by the air traffic. “The loud noise of aircraft also disrupts patients who are recuperating at hospitals and disturbs the concentration of school students.” Marcus said if KKIA is expanded at its present site, noise pollution would only worsen and “it would become unbearable”. He also reminded the federal government that the safety of the people of Kg Sembulan and Tanjung Aru is also at risk if emergencies occur with any of the aircraft destined for Kota Kinabalu. Capitalise on Second Chance Policy: Expert KUALA LUMPUR: Malaysians who have been absolved from the bankruptcy list by the Malaysian Insolvency Department through the Second Chance Policy should fully capitalise on the government’s offer, said financial consumer expert Prof Dr Mohamad Fazli Sabri. He underscored the importance of seizing this opportunity to forge a brighter future, noting that such a chance may only arise once in a lifetime. “There may not be a third or fourth chance, so seize this opportunity to increase income, and ensure you do not fall back into the financially vulnerable category,” he advised affected individuals in a recent interview. The Second Chance Policy is a government initiative designed to protect the welfare of individuals burdened by small-scale debts by providing a pathway out of bankruptcy under specific criteria, effective March 1, 2023. During the tabling of the 2024 Budget last year, Prime Minister Datuk Seri Anwar Ibrahim unveiled the extension of the policy to encompass individuals aged under 40 with debts not surpassing RM200,000, effective this year. Anwar said nearly 14,000 bankruptcy cases involving minor debts under RM50,000 had been discharged as of July 2023. Mohamad Fazli, who is also Universiti Putra Malaysia Faculty of Human Ecology dean, underscored the initiative’s capacity to mitigate the emotional burden and societal stigma attached to financial hardships culminating in bankruptcy filings. He said many young bankrupt individuals often overspend in pursuit of extravagant lifestyles. He added that the government should monitor discharged individuals to prevent them from sliding back into debt. “There should be continuous educational programmes to enhance financial literacy, particularly in managing debts and loans,” he said He also advised individuals discharged from bankruptcy to equip themselves with sound understanding of financial management practices to avoid falling back into financial vulnerability. – Bernama Better option to build new airport at Kimanis oProposed site has right size, topography and project will create thousands of jobs for Sabah residents, says MP ‘Lodge complain over misuse of children images’ KULAI: Parents and guardians are urged to lodge complaints with the Malaysian Communications and Multimedia Commission (MCMC) if recordings of their children’s images and videos are used as social media content by any party without permission. Deputy Communications Minister Teo Nie Ching said MCMC also has the power to remove social media content involving children uploaded without the consent of their parents or guardians to ensure that no party is exploited for personal gain. She said the Education Ministry has specific guidelines for the use of social media involving teachers and students issued since 2017. “In principle, it is important to obtain parental concent, because they are the guardians of these children. “Action will be taken if (these contents) are uploaded without permission,” said Teo, who is also the Kulai MP. “If there are any complaints received, MCMC will contact the respective social media platforms to remove the content, she said at a mosque and surau donation handover programme in conjunction with Ramadan here yesterday. Teo said the Kulai parliamentary office donated a total of RM87,000 to 29 mosques and 58 surau within the constituency for this year’s Ramadan. On March 18, it was reported that Communications and Multimedia Content Forum of Malaysia chairman Rafiq Razali urged teachers not to use their students as content on social media, especially without parental consent. On March 4, Education Minister Fadhlina Sidek was reported as saying that teachers cannot misuse social media platforms at will, and strict action will be taken if they are found to have violated the relevant guidelines. – Bernama Power cuts affect over 105,000 users KOTA KINABALU: Scheduled electricity supply cuts were implemented for 105,628 users in Sabah and Labuan on Saturday following a shortfall in output from the electricity supply grid, said SESB Sabah and Labuan Grid System Operator general manager Adrian Mosigil. He said the problem arose because the Teluk Salut and Rugading independent power producers were facing technical issues. The load shedding affected the Tawau, Pitas, Beaufort, Kuala Penyu, Nabawan, Ranau, Tuaran, Kota Kinabalu, Lahad Datu, Kunak, Kudat, Sandakan, Tenom and Papar districts, he said in a statement yesterday. – Bernama █ BYJOSHUA PURUSHOTMAN newsdesk@thesundaily.com Inclusive development plan for Sabah BEAUFORT: The Sabah state government introduced the Sabah Maju Jaya development plan to welcome Sabah residents to come together and develop the state, Chief Minister Datuk Seri Hajiji Noor said. “This slogan invites our people to progress and develop the state together,” he said at a breaking of fast event at a mosque here on Saturday. Hajiji wants Sabah resident to unite against challenges, and reiterated that his leadership would remain focused on people’s welfare and the economy. – Bernama TRADITIONAL STYLE ... A shopper putting on a tanjak while browsing at a bazaar in Putrajaya ahead of Hari Raya Aidilfitri celebrations next month. – SYED AZAHAR SYED OSMAN/THESUN
MONDAY | MAR 25, 2024 4 Sorcery, witchcraft misconceptions hindering TB treatment PUTRAJAYA: A total of 2,623 deaths due to Tuberculosis (TB) were recorded last year, signifying a 2% increase of 51 cases compared with 2022, said Health Minister Datuk Seri Dr Dzulkefly Ahmad. In a statement released for World TB Day yesterday, he said 26,781 cases were reported last year, showing a rise of 1,390 cases or 5.47% compared with 25,391 during the same period the previous year. “Tuberculosis continues to be a major disease burden in Malaysia. The current statistics are worrisome and adversely affect the quality of life for the population. “With the availability of curative TB treatments, efforts to detect and initiate early treatment need to be intensified.” Dzulkefly said TB is an airborne infectious disease caused by Mycobacterium tuberculosis, primarily affecting the lungs (pulmonary TB), although other organs such as the brain (meningitis TB), spine (spinal TB), lymph nodes (lymph node TB), abdomen (abdominal TB), can also be infected. TB symptoms include persistent cough lasting more than two weeks, fever, night sweats, loss of appetite, weight loss and coughing blood. “Misconceptions surrounding tuberculosis symptoms, such as attributing them to sorcery, witchcraft or hereditary diseases, must be dispelled to ensure individuals experiencing symptoms promptly seek examination and treatment at health clinics and hospitals. “Those at high risk of contracting tuberculosis, such as HIV patients, chronic kidney disease patients, chronic obstructive pulmonary disease sufferers, active smokers and individuals in contact with tuberculosis patients, must also undergo screening.” He said TB treatment involves a combination of antibiotics taken daily for at least six months and advised patients to adhere to the treatment schedule, and discuss any problems or side effects with their treatment supervisor. Patients who stop or refuse to continue treatment may face legal action under the Prevention and Control of Infectious Diseases Act 1988 (Act 342), he added. “It is the aspiration and hope of the nation that tuberculosis ceases to be an infectious disease in society by the year 2035, aligning with the ‘Stop TB Strategy’ by the World Health Organisation. To achieve this, high commitment and close cooperation among individuals, communities and various agencies are crucial. World TB Day is commemorated on March 24 annually, with this year’s theme being “Yes! We Can End TB”. The theme calls for the support and commitment of all individuals and layers of society to mobilise efforts, energy, expertise and innovation, and increase investment to eradicate tuberculosis. – Bernama Proposal to empower smallholder farmers GEORGETOWN: In view of global constraints in food security and increasing demand in Malaysia, government agency Mranti CEO Datuk Dr Rais Hussin has proposed to empower smallholder farmers through Fourth Industrial Revolution (4IR) technologies. He said empowering them to directly benefit from the produce of their land on a national scale would not only ensure national food security but also address digital inclusion and income inequality, propelling the country beyond the middle-income and low gross domestic product trap. Rais said the government should empower smallholder farmers to become independent agricultural producers with the help of 4IR agritech and fintech. “Absorbing their land into larger estates would exacerbate wealth concentration and contribute to technological unemployment. By empowering individual farmers, the government would foster widespread equitable wealth distribution and economic independence on a national scale,” he told theSun. “However, they suffer from (the effects of) middlemen and lack of finances, among others. This is why we have expensive food.” He said by 2050, the global population would increase to 9.2 billion, with the urban population expanding by 66%. “Considering all factors such as the decline in arable land and the increase of greenhouse gas emissions, global demand would increase by 59% to 98%, posing an imminent threat to food security and availability.” The focus on smallholder agri-business appeals to the government due to its potential to boost farmer incomes and lower food prices, leading to an increase in household spending, driving economic growth and stability. “The infusion of technology into agriculture is expected to attract young people to the sector, potentially reducing youth unemployment. Consistent improvements in yield, water and pesticide usage, profitability and post-harvest losses encourage the benefits of technological advancements in agriculture. Therefore, it is logical to initiate the implementation of novel solutions at micro-farm levels.” █ BY T.C KHOR newsdesk@thesundaily.com Govt revising law to enhance rights of differently-abled PETALING JAYA: The Women, Family and Community Development Ministry is reviewing the Persons with Disabilities Act 2008 to enhance their rights, including accessibility to employment. Its spokesperson said employers have an obligation under Section 685 of the Act to provide the group with equal opportunities, equal remuneration for work of equal value and safe working conditions. “The ministry is aware of the challenges faced by differently-abled persons in accessing employment opportunities and we hope to finalise the amendments to possibly table the Bill in the Dewan Rakyat this year,” she said. She was commenting on theSun’s report on March 20, which highlighted the story of wheelchair-bound Khu Li Huang, 40, who has been experiencing discriminatory hiring practices as a person with disability. Khu has a Bachelor of Arts and a Master of Social Science degree majoring in Anthropology and Sociology from Universiti Sains Malaysia. She became a person with disability at age 16 after she was hit by a lorry while on the way to school in 1999. When seeking employment, Khu faced rejections each time a potential employer realised she was disabled. Among the reasons that were given to her was the lack of disabled-friendly facilities at the workplace. Khu urged the government to look into the discriminatory practices faced by the differently-abled and provide them with equal access to employment opportunities, especially in government sectors. The Women, Family and Community Development Ministry’s spokesperson told theSun it encourages the differently-abled community to report instances of employment discrimination to the authorities. “They can file complaints with the Human Resources Ministry or the Human Rights Commission of Malaysia to seek redress. The differently-abled should also be aware of their rights. “Reporting such discrimination helps them Khu said among the reasons she received for job rejections was the lack of disabled-friendly facilities at the workplace. – MASRY CHE ANI/THESUN oMove comes after report by theSun on discrimination, challenges faced by wheelchair bound jobseeker █ BYQIRANA NABILLA MOHD RASHIDI newsdesk@thesundaily.com Huge impact of peninsula visitors to Sabah KOTA KINABALU: Peninsular Malaysians vacationing in Sabah play a crucial role in fostering national integration, said Sabah Tourism, Culture and Environment Assistant Minister Datuk Joniston Bangkuai. “Travellers from the peninsula not only get to explore a new destination in Malaysia but also engage in cultural exchange with the local community, and foster a deeper sense of unity and understanding. “Choosing to visit Sabah is akin to going overseas as you will be crossing the South China Sea.” Joniston said the shift in travel preferences would help domestic tourism grow, which is in line with the state government “Sabah Maju Jaya” development plan to boost the state economy. He said Sabah exceeded its 2023 target of 2.2 million tourist arrivals, with 2.6 million visitors. Of the total, 1.75 million were domestic visitors and 858,475 were foreigners, earning the state RM5.5 billion in tourism. “Statistics from the Sabah Tourism Board showed in the first two months of this year, Sabah had 300,990 domestic and 231,237 foreign tourist arrivals. “The country with the most tourists visiting Sabah is China, with 91,936, followed by South Korea with 42,653 and Brunei with 36,066.” – Bernama seek redress and is also a crucial step towards promoting equality, accountability and social justice at the workplace.” She said the ministry has also partnered with the National Council for Persons with Disabilities to establish an Employment Committee that ensures equal employment opportunities. “The committee also evaluates the effectiveness of policies and programmes designed for the differently-abled to ensure they achieve their full and effective participation. “We are hopeful through this collaboration, significant strides can be made to foster inclusivity and empower the differently-abled in the workforce.” UiTM Faculty of Business Management (Human Resources) senior lecturer Dr Muhammad Aiman Arifin said discrimination often occurs when employers fail to recognise the abilities of differently-abled persons. “It is crucial to view the differently-abled as equals, despite the constraints they may be facing. Many fail to recognise when we prioritise competency over disabilities, we embrace an additional asset for an organisation.” Muhammad Aiman said it is important that employers ensure the differently-abled have access to suitable facilities in their organisations. He said with support, the differently-abled can feel valued, just like other employees, thereby sustaining a fair working environment. “Many laws in Malaysia protect the differently-abled from discrimination, yet the issue persists. Employers must assume responsibility and strike a balance between their needs and those of the differently-abled.” He said the government efforts to revise policies and regulations aimed at improving employment opportunities for the differently-abled is a positive step. “But a comprehensive guideline is needed to harmonise the policies with the mindsets of organisations so employers realise a differently-abled worker is also a valuable asset as long as he or she can contribute positively. In the workforce, our focus should centre on their abilities and what they can contribute, and provide employment that allows them to showcase their capabilities rather than focus on their disabilities.”
MONDAY | MAR 25, 2024 | 5 KEBAWAH DULI YANG MAHA MULIA SULTAN IBRAHIM DAULAT TUANKU
MONDAY | MAR 25, 2024 6 Lack of awareness hampering efforts to prevent HIV PETALING JAYA: A lack of awareness may be why very few people take pre-exposure prophylaxis (PrEP), which is provided at selected government health clinics to reduce the risk of contracting HIV. On March 20, Health Minister Datuk Seri Dr Dzulkefly Ahmad said 3,451 individuals were given PrEP as of Jan 11 under a pilot programme, which started in January last year. Sexual health adviser Azim Fakhrullah said: “Despite efforts to inform the public about the pills, many who are at high risk of contracting HIV are still unaware of their availability and effectiveness in preventing HIV transmission. “This lack of awareness could stem from insufficient education and outreach campaigns targeting at-risk communities.” Azim said HIV carries a significant social stigma, which dissuades many from seeking information or assistance on HIV prevention and treatment due to fear of judgement, discrimination or ostracisation. “These stigmas hinder open discussions about PrEP and other preventive measures. “Some mistakenly believe PrEP is ineffective, has severe side effects or is only necessary for those who engage in high-risk behaviour.” He also said the process to obtain PrEP at selected government clinics is quick and easy. “Individuals could just walk into clinics dispensing them and inform the staff about their required medication. “They would then be directed to undergo a medical assessment and tests for HIV, kidney function and other sexually transmitted infections before PrEP is prescribed.” Azim said PrEP is highly effective for preventing HIV when taken as prescribed and suggested high-risk individuals use it to significantly reduce the risk of infection. “By taking the pills, individuals could add an extra layer of protection against HIV transmission, especially if they engage in risky behaviour such as having multiple sex partners, unprotected sex, using intravenous drugs or having an HIVpositive sex partner.” Universiti Malaya associate professor of infectious diseases Dr Raja Iskandar Raja Azwa said PrEP could be taken daily by men and women, or “on demand” by men. “There are two options for taking PrEP. The most common approach for men is to take the pills about four times a week. However, women have to do so six to seven times a week to achieve full protection.” Raja Iskandar said men who have frequent sexual intercourse are advised to take the pills daily and those who have it infrequently may take it “on demand”. He stressed that taking PrEP pills in this manner is only effective for men. “Taking PrEP ‘on demand’ involves swallowing two pills between two and 24 hours before intercourse, followed by another pill 24 hours later and a final pill 24 hours after that.” Police celebrate 217 years of dedicated service KUALA LUMPUR: The police force celebrates its 217th anniversary today, and over the course of its extensive existence, the Sang Saka Biru squad has encountered numerous challenges and hardships to ensure peace and harmony in the country. Since the inception of a modern and systematic policing system when the Charter of Justice was introduced in Penang on March 25, 1807, the force has undergone significant evolution, not only in its image and duties but also in effectively overcoming security challenges. Inspector General of Police Tan Sri Razarudin Husain highlighted the force’s commitment to enhancing the intellectual aptitude and image of its personnel through courses, seminars and continuous training in areas such as law, sociology, psychology, criminal analysis and professional ethics. “We are constantly adapting to face current challenges, including by leveraging technology to enhance service delivery and maintain public order. This involves the use of body cameras, data analytics platforms and mobile apps such as Volunteer Smartphone Patrol to facilitate crime reporting and emergency response. “Such technology is important to increase public trust in the force and enable the police to address various negative accusations related to integrity issues,“ he said. Razarudin also emphasised the pressing need for police to deal with the behaviour of certain personnel who fail to adhere to the law and who exhibit irresponsible conduct on duty. He expressed concern that such issues have eroded public trust in security forces, despite only a small number of personnel being at fault. To address the matter, he consistently issues warnings and reminders to personnel to avoid behaviour that could tarnish their image and result in disciplinary or legal action. Razarudin said the police always strive to build strong relationships of trust and cooperation with the local community by implementing initiatives such as security awareness programmes, dialogue sessions and collaborative projects. “This approach could project a positive image of the police force as a knowledgeable, integrity-driven team committed to maintaining the safety and harmony of the community, in line with this year’s Police Day celebration theme, ‘Polis dan Masyarakat Berpisah Tiada’ (No Separation between Police and Society).” He said the police force is providing its personnel with continuous training and educational programmes on cultural sensitivity, human rights and effective communication techniques to ensure they interact with the community in a positive and ethical manner. “We also encourage community participation through public safety programmes.” – Bernama Two killed, two hurt in family car crash KOTA KINABALU: A father and his four-year-old daughter died in an accident involving a multipurpose vehicle and a four-wheel drive on Jalan Apin-Apin, Keningau on Saturday night. A Sabah Fire and Rescue Department spokesman said the victims were identified as Masino Gelong, 45, and Claeryina Mecthildis Masino. He said the department received a distress call at 12.22am and dispatched 13 firefighters from the Keningau station to the scene. The man’s wife, 33, and their toddler, aged two years and 11 months, suffered serious injuries while three adults aged 31 to 40 escaped with minor injuries. “Medical officers confirmed the deaths at the scene. The injured parties were taken to the hospital for treatment. “The cause of the incident has yet to be ascertained, and the rescue operation ended at 2.30 am.” – Bernama █ BYNUQMAN ADAM newsdesk@thesundaily.com Fire leaves 65 residents homeless KOTA KINABALU: Sixty-five Kampung Likas residents lost their homes in a fire early yesterday morning, Bernama reported. A Sabah Fire and Rescue Department Operations Centre spokesman said no casualties were reported, adding that the department received a distress call at 3.11am and 26 firefighters from the Lintas, Kota Kinabalu and Penampang stations were dispatched to the scene. “The fire was controlled by 4.16am and the operation ended at 6.49am.” He said the cause of the fire and losses incurred are being investigated. Man found dead in burning car IPOH: A man was found dead inside a car that is believed to have skidded and caught fire in Kampung Ayer Hitam, Batu 13 in Teluk Intan. Perak Fire and Rescue Department assistant operations director Sabarodzi Nor Ahmad said they received a report about the incident at 9.33pm. “Personnel from the Teluk Intan station and the Batu 12 Volunteer Fire Brigade were dispatched with fire engines. “They found a car 80% ablaze,” he said, adding that they used the “rescue, exposure, confinement, extinguishment, overhaul” technique to control the fire and the operation ended at 11.27pm. Medical personnel verified the death and the body was handed to the police for investigations. – Bernama oDespite pre-exposure drug being easily available, scant education and outreach campaigns impact response Azim said the pills could offer extra protection to individuals who engage in risky behaviour such as having multiple sex partners, unprotected sex, using intravenous drugs or having a HIV-positive sex partner. – SYED AZAHAR SYED OSMAN /THESUN
MONDAY | MAR 25, 2024 | 7
MONDAY | MAR 25, 2024 8 Three Filipino soldiers hurt by water cannon MANILA: Three Philippine troops were injured in the latest China Coast Guard water cannon attack on a Filipino supply vessel near a South China Sea reef, Manila’s national security adviser said yesterday. The Philippine government said Saturday’s confrontation caused severe damage to the Unaizah May 4 vessel while it was on its way to deliver troops and provisions to a Philippine navy ship grounded atop the Second Thomas Shoal. China claims almost the entire South China Sea, brushing off rival oChina says it was ‘safeguarding territorial sovereignty’ BLESSED EVENT ... Filipino Catholics raise palm fronds during a Palm Sunday mass at the Antipolo Cathedral in Antipolo City, Rizal province yesterday. – REUTERSPIC Sixteen Asiatic bear cubs rescued in Laos BANGKOK: Sixteen Asiatic black bear cubs have been found in a home in Vientiane, Laos, by a conservation charity, the largest rescue of the year. The clutch of cubs, also known as moon bears after the white crescent of fur across their chests, are classified as vulnerable on the IUCN Red List of endangered species. Across Asia, thousands of the animals are kept as pets or farmed to extract their bile for use in costly traditional medicine. Wildlife conservation charity Free the Bears said they found 17 undernourished cubs in the private home in Vientiane early last week, but that one of them had already died. “When we arrived at the house there were bear cubs everywhere,” said Fatong Yang, animal manager with the charity. The group found 10 males and six females, weighing between 1.3kg and 4kg and believed to be around two to four months old. “Cubs this small are extremely vulnerable. “In the wild their mothers would never leave them and we suspect the mothers were killed by poachers,” Fatong said in a statement over the weekend. Charity head Matt Hunt said the organisation would have to bring in experts from Cambodia to cope with the number rescued, surpassing a 2019 mission when five cubs were saved in the country’s north. “This is the most bears we’ve rescued in a single year and we’re only three months into 2024,” he said. Free the Bears said that police were alerted to the house after a neighbour heard the cries of one of the cubs. One person has been taken into custody, the group said, while police continue to search for the owner of the property. The cubs have been transferred to Luang Prabang Wildlife Sanctuary, Free the Bears said in a statement, where they will be bottle-fed and closely monitored. Hunt added that they were “so happy 16 of the 17 are alive and have a second chance to live a life free from fear and suffering”. – AFP Ganjar calls for new election and Prabowo’s disqualification JAKARTA: The legal team of losing Indonesia presidential candidate Ganjar Pranowo filed a complaint at the country’s constitutional court on Saturday, calling for a fresh election and disqualification of the winning team of Defence Minister Prabowo Subianto. Ganjar, a former Central Java governor supported by the ruling Indonesian Democratic Party of Struggle, received 16% of the votes in last month’s election, behind Prabowo, who won almost 60% of the votes, and former Jakarta governor Anies Baswedan, who received 25%. Prabowo is slated to be inaugurated this October. Todung Mulya Lubis, a lawyer with Ganjar’s legal team, said Prabowo’s disqualification was being called for on the grounds that his registration had violated legal and ethical provisions and therefore the election should be re-run. Todung said the election was tainted with nepotism that resulted in “a coordinated abuse of power”, he said after filing the case. A decision last year by the constitutional court to change eligibility rules allowed Gibran Rakabuming Raka, son of outgoing president Joko Widodo (Jokowi), to become Prabowo’s running-mate. Jokowi’s brother-in-law was chief justice at the time of the ruling. The legal team of the other losing candidate, Anies Baswedan, also filed a case, calling on Thursday for the court to order an election re-run that excludes Gibran, alleging his last-minute inclusion unfairly swayed the vote. Ganjar’s team also complained of a “politicisation of social aid” and have alleged abuse of the election commission’s IT system. – Reuters claims from other Southeast Asian countries, including the Philippines, and an international ruling that its assertion has no legal basis. National Security Adviser Eduardo Ano said three navy personnel aboard the vessel were injured in Saturday’s incident. The extent and nature of their injuries were not disclosed, though the military said the personnel were treated aboard a coast guard escort ship. Four crew members were injured by broken glass in an earlier China Coast Guard water cannon attack on the same vessel on March 5. “This is just an ordinary rotation and resupply or provision operation but look at how the Chinese are reacting,” Ano said, according to an interview transcript shared with AFP. The United States, which has a mutual defence pact with Manila, has denounced the attack. “The (Chinese) actions are destabilising to the region and show clear disregard for international law,” State Department spokesman Matthew Miller said in a statement, reaffirming Washington’s mutual defence treaty commitments to Manila. The China Coast Guard has defended its actions, describing them as “lawful regulation, interception and expulsion” of a foreign vessel that “tried to forcefully intrude” into Chinese waters. Ano said the damaged vessel has returned to the western province of Palawan after its crew managed to restart its engine. “We will not be deterred. We will not be intimidated,” he said, vowing the Philippines would continue to resupply the garrison on Second Thomas Shoal. China’s Defence Ministry yesterday warned the Philippines against “provocative” actions and said China would safeguard its territorial sovereignty. “We warn the Philippines to stop making any remarks that may lead to the intensification of conflicts and escalation of the situation, and stop all infringing and provocative actions,” it said in a statement. “If the Philippines repeatedly challenges China’s bottom line, China will continue to take firm and decisive measures to firmly safeguard its territorial sovereignty and maritime rights and interests.” – AFP/Reuters B R I E F SMAN CHARGED WITH SMUGGLING METH SYDNEY: A Taiwanese man was charged for allegedly smuggling more than 20kg of methamphetamine into Australia concealed in herbal tea, wine bottles, and bath salts. The 27-yearold man arrived in Sydney on a flight from Thailand on Tuesday, the Australian Federal Police said. Border force officers found packages with 21.2kg of methamphetamine in the man’s carry-on luggage. He was later charged with importing a commercial quantity of a bordercontrolled drug, which carries a maximum penalty of life in prison. “Syndicates continue to come up with different ways to smuggle illicit drugs under the guise of legitimate food and alcohol products,” said Rosemaree Cracknell of the Australian Border Force. “Our ABF officers are exceptionally skilled to identify and question travellers who may be attempting to import illicit substances.” – Bernama CHINESE-OWNED TANKER HIT BY HOUTHI MISSILE DUBAI: A Chinese-owned oil tanker was attacked off Yemen on Saturday by ballistic missiles fired by Houthi rebels, who have intensified strikes on Red Sea shipping, the US military said. The Panamanian-flagged, Chinese-owned and operated Huang Pu issued a distress call but did not request assistance, US Central Command (Centcom) said in a statement on X early yesterday. “No casualties were reported, and the vessel resumed its course,” the statement said. Centcom and the British navy’s United Kingdom Marine Trade Operations said a fire had broken out on board the ship but was extinguished within 30 minutes. The marine traffic tracking website later had the vessel sailing out of the Red Sea into the Gulf of Aden. – AFP PAPUA NEW GUINEA HIT BY 6.9 QUAKE JAKARTA: Papua New Guinea was hit with a magnitude 6.9 earthquake yesterday, according to the US Geological Survey (USGS). The epicentre was 23km northeast of the town of Ambunti and seismic activity remained high in the region with aftershocks in neighbouring Indonesia and Solomon Islands. About 20 minutes after the first tremor, a magnitude 5.1 quake also hit the epicentre while a magnitude 5.2 convulsion struck the area later. Indonesia’s Gorontalo was hit by a magnitude 4.9 quake an hour later and Solomon Islands’ Gizo and Indonesia’s Ende were hit with earthquakes of magnitude 5.1 and 5.7, respectively, later in the day. There was no loss of life or property from the quakes. – Bernama
MONDAY | MAR 25, 2024 9 @thesundaily FOLLOW ON TWITTER Malaysian Paper Rescuers save girl after storm kills 12 PETROPOLIS: Search teams in southeastern Brazil rescued a girl buried for more than 16 hours in the rubble of a collapsed house following a powerful storm that has claimed at least a dozen lives. Authorities have deployed teams to the mountainous areas of Rio de Janeiro state, describing the situation caused by the deluge there as “critical”. Four of the deaths in Rio state occurred when the storm caused a house to collapse in the city of Petropolis, 70km inland from the capital. The girl’s father, who was found dead next to her on Saturday morning, had “heroically protected the girl with his body”, said a neighbour. “We are in pain, but grateful for this miracle,” said Luis Claudio de Souza, 63. At least eight people have been killed in the state of Rio de Janeiro, officials said, while the neighbouring state of Espirito Santo has confirmed at least four dead and seven missing. “Such environmental tragedies are intensifying,” President Luiz Inacio Lula da Silva said in X, adding that thousands had been left homeless by the storm. He expressed sympathy for the victims, and said his government was working with state and local authorities to “protect, prevent and repair flood damage”. Espirito Santo’s governor Renato Casagrande said the situation in the town of Mimoso do Sul was “chaotic”, with the number of fatalities there yet to be determined. And in Sao Paolo state, two children were hospitalised for injuries sustained during the storm. Rio Governor Claudio Castro on Friday said the situation in Petropolis was “critical” due to “intense rains and the overflowing of the Quitandinha River”. Dozens of soldiers with dogs were deployed to the scene in Rio state, while schools opened their doors to the displaced, Castro said. Images on local media showed rivers of water, mud and debris rushing down slopes in picturesque Petropolis. – AFP B R I E F SOVER 200 NIGERIAN STUDENTS FREED AFTER ABDUCTION MAIDUGURI: Over 200 students and staff abducted by gunmen from a school in northern Nigeria earlier this month have been released unharmed, the office of the governor of the state of Kaduna said yesterday, days before a deadline to pay a US$690,000 (RM3.3 million) ransom. The kidnapping took place on March 7 in Kuriga. Kaduna governor Uba Sani said the country’s National Security Adviser coordinated the release of the Kuriga schoolchildren. He did not give details. The gunmen had last week demanded US$690,000 for the release of the missing children and staff. The government had said it would not pay any ransom, after the practice was outlawed in 2022. But kidnappings by gangs demanding ransom have become frequent. – Reuters TASMANIA HEADED FOR MINORITY GOVERNMENT SYDNEY: Australia’s Tasmania appeared to be headed for a minority government yesterday as vote counting continued after a lack of a clear winner from an election in the southern island state. The conservative Liberal government, led by Premier Jeremy Rockliff, was on track to win the most seats in the new parliament but likely fall short of a majority after Saturday’s election. The election was sparked after defections from Rockliff’s party plunged the only Liberal government among Australia’s six states and two self-governing territories into a minority. Rockliff said that voters had given the Liberals “a mandate to form a new government”. “We’ve won the most seats and indeed the most votes and so the Tasmanian people have not voted to change the government,” he said. – Reuters UK royals ‘extremely moved’ by support LONDON: The prince and princess of Wales are said to be “enormously touched” and “extremely moved” by the public’s warmth and support following Kate’s cancer announcement. Kate, 42, revealed she was undergoing preventative chemotherapy in an emotional video message on Friday. There has been a global outpouring of support, including from King Charles III, the Duke and Duchess of Sussex, political figures, and members of the public. A Kensington Palace spokesperson said on Saturday: “The prince and princess are both enormously touched by the kind messages from people here in the UK, across the Commonwealth, and around the world in response to her message. “They are extremely moved by the public’s warmth and support and are grateful for the understanding of their request for privacy at this time.” Charles, who was diagnosed with cancer in February, is said to be proud of his daughterin-law for her courage in speaking about her treatment and has remained in close contact during the past few weeks. Words of support also came from the Duke and Duchess of Sussex, who said: “We wish health and healing for Kate and the family, and hope they can do so privately and in peace.” The form of cancer has not been disclosed, but the future queen began a course of “preventative chemotherapy” late in February, and is said to have a positive mindset for her recovery and is in good spirits, describing herself as “well and getting stronger every day”. William and Kate have focused on their children, taking the time to sensitively share the state of her health with George, Charlotte, and Louis. Political leaders of all sides expressed sympathy and support for Kate and criticised what UK Prime Minister Rishi Sunak described as the “intense scrutiny” she has faced from social media and sections of the media. UK Foreign Secretary David Cameron said in a post on X, formerly Twitter: “The strength of the princess – speaking so frankly, with all the pressures of publicity and bringing up a young family – is remarkable and is rightly admired around the world.” It is understood the video message, recorded on Wednesday in Windsor, was released on the day William and Kate’s three children began their Easter school holidays, to take advantage of the break to shield them from coverage of their mother’s health. – Bernama Robust blueprint to end women poverty NEW YORK: The 68th session of the Commission on the Status of Women (CSW68) delivered robust commitments by UN member states to strengthen financing and institutions to eradicate women’s and girls’ poverty. Globally, 10.3% of women live in extreme poverty today, according to a report presented by the UN secretary-general to the commission, and progress towards ending poverty needs to be 26 times faster to achieve the Sustainable Development Goals by 2030, according to a UN Women press release. (UN Women is the UN Entity for Gender Equality and the Empowerment of Women.) The outcome document recognises that women and girls living in poverty become “shock absorbers” in times of crises and that further efforts are needed to increase oCommission calls for gender responsive economic policies resources to address women’s and girls’ poverty. Acknowledging that the international financial architecture is not fit for a crisisprone world, the commission called for reforms to enable countries to mobilise and invest resources in gender equality. These measures include debt relief and progressive taxation, and ensuring that public resources are allocated to address the needs and rights of women and girls. The outcome document also notes that official development assistance must be increased to address women’s and girls’ poverty. The share of total aid with gender equality as a policy objective decreased for the first time in a decade from 45% in 2019 to 43% in 2020, according to the latest data from the Organisation for Economic Co-operation and Development. The press release says that the commission also called for the implementation of genderresponsive economic and social policies, including increased women’s representation, leadership, and participation in economic institutions, enforcing core labour standards to ensure equal pay for work of equal value, and implementing policies to support women-owned businesses. During the session, the commission also adopted a resolution on HIV-AIDS led by the Southern African Development Community, which calls to increase investment in gender equality and the empowerment of all women and girls in the HIV-AIDS response. The two-week session is the largest UN gathering on gender equality. It brought together world leaders, including two heads of state, three vice-presidents, over 100 ministers, and 4,800 representatives of civil society organisations, marking the secondhighest attendance in CSW records. On the sidelines of the sessions, about 270 side events were organised by UN member states, intergovernmental organisations, and UN entities, and more than 760 parallel events were organised by civil society and youth-led organisations as part of the NGO Forum. Attention is now turning to next year’s 30th anniversary of the adoption of the Beijing Declaration and Platform for Action. The 69th session of the Commission on the Status of Women will take place from March 10 to 21, 2025 in New York. – Bernama EASY DOES IT ... A young boy crawls through razor wire at the border as migrants cross from Mexico into El Paso in Texas on Saturday. – REUTERSPIC
MONDAY | MAR 25, 2024 10 Or download app on the AppStore or Google Play ENJOY A SEAMLESS READING EXPERIENCE. Read our iPaper at https://www.thesun.my/ Palestinians stuck in non-stop nig htmare, says UN chief oUS puts bridging proposal on table RAFAH: UN chief Antonio Guterres said that the world has seen enough of the war’s horrors and appealed for a ceasefire to allow in more aid. “Palestinians in Gaza – children, women, men – remain stuck in a non-stop nightmare,” he said on the Egyptian side of the Rafah border crossing where truckloads of aid trickle into Gaza but the population is stalked by “hunger and starvation”. He described the situation as “moral outage’” “I carry the voices of the vast majority of the world who have seen enough,” Guterres said, deploring “communities obliterated, homes demolished, entire families and generations wiped out”. He reiterated that “nothing justifies the collective punishment of the Palestinian people”, Palestinian news agency WAFA reported. Guterres emphasised “it is more than time for an immediate humanitarian ceasefire” and appealed to Israel for “total, unfettered access for humanitarian goods throughout Gaza”. In related developments, the United States has made a “bridging proposal” for the number of jailed Palestinians to be released by Israel in exchange for every hostage freed by Hamas in any new Gaza truce, an Israeli official briefed on the Qatar-hosted talks said on Saturday. An Israeli delegation led by Mossad chief David Barnea has been in Doha for indirect negotiations with the Palestinian group Hamas, which CIA director William Burns is helping Qatari and Egyptian officials to mediate. Hamas wants to parlay any deal into a permanent end to the fighting – short of a formal peace, as the group is sworn to Israel’s destruction. Israel plans to pursue the war until Hamas’ governing and military capacities are dismantled. “During the negotiations, significant gaps came to light on the question of the ratio” of prisoners to be released for each of the 40 hostages whose potential recovery is under discussion, said an Israeli official, who requested anonymity. “The United States put a bridging proposal on the table, to which Israel responded positively. Hamas’ response is pending.” The official provided no details on the US proposal. The US embassy in Israel did not immediately comment. Asked about the hostage-to-prisoner ratio, senior Hamas official Sami Abu Zuhri referred Reuters to a proposal made by the group this month under which Israel would free between 700 and 1,000 jailed Palestinians in return for female, minor, elderly and infirm captives. Israel called that “unrealistic”. Abu Zuhri noted Israel’s refusal to agree to call off its offensive, withdraw forces and allow displaced Palestinians to return to homes in the northern Gaza Strip: scenes of some of the most intense fighting in the almost six-monthold conflict. “What America and the Occupation (Israel) want is to regain the captives without a commitment to end the aggression, which means the resumption of war, killing and destruction, and we can’t accept that,” Abu Zuhri said. US President Joe Biden, echoing Israel, has said Hamas must be eliminated. Israel has expressed openness to suspending its offensive for six weeks and allowing more humanitarian aid into Gaza in return for the 40 hostages. That would leave behind 90 hostages, out of 253 seized by Hamas on Oct 7. – Bernama/Reuters Russia mourns victims of deadly concert hall attack Kyiv under attack, missile violates Polish airspace KYIV: Russia launched 57 missiles and drones on Ukraine yesterday, including attacking Kyiv and the western Ukrainian region of Lviv, officials said, with Poland’s armed forces saying a cruise missile briefly violated Polish airspace. Ukraine’s air force destroyed 18 out of 29 Russia-launched missiles and 25 out of 28 attack drones, Ukraine’s air force said. Several explosions rocked Kyiv early yesterday, with Ukraine air defence forces destroying about a dozen missiles over the capital and its vicinity, said Serhiy Popko, head of Kyiv’s military administration. He added that there was only minor damage. “For the third pre-dawn morning this week, all of Ukraine is under an air alert,” US Ambassador Bridget Brink posted on X. “Russia continues to indiscriminately launch drones and missiles with no regard for millions of civilians, violating international law.” A Russian cruise missile launched at Western Ukraine’s region of Lviv, violated Poland’s airspace. “The object entered Polish airspace near the town of Oserdow and stayed there for 39 seconds,” a Polish military spokesman said. “During the entire flight, it was observed by military radar systems.” He said Polish and allied aircraft were put on alert during the attack. Lviv Mayor Andriy Sadovyi said there were no attacks on the city but some 20 missiles and seven attack drones had been launched against the broader Lviv region, targeting “critical infrastructure”. – Reuters MOSCOW: Russia lowered flags to half-mast yesterday for a day of mourning after scores of people were gunned down with automatic weapons at a rock concert outside Moscow in the deadliest attack inside Russia for two decades. President Vladimir Putin declared a national day of mourning after pledging to track down and punish all those behind the attack, which left 133 people dead, including three children, and more than 150 were injured. “I express my deep, sincere condolences to all those who lost their loved ones,” Putin said in an address to the nation on Saturday, his first public comments on the attack. “The whole country and our entire people are grieving with you.” The Islamic State claimed responsibility for Friday’s attack, but Putin has not publicly mentioned the group in connection with the attackers, who he said had been trying to escape to Ukraine. He asserted that some on “the Ukrainian side” had prepared to spirit them across the border. Putin said 11 people had been detained, including the four gunmen, who fled the concert hall and made their way to the Bryansk region, about 340km southwest of Moscow. “They tried to hide and moved towards Ukraine, where, according to preliminary data, a window was prepared for them on the Ukrainian side to cross the state border,” Putin said. Russia’s Federal Security Service (FSB) said the gunmen had contacts in Ukraine and were captured near the border. Ukraine has repeatedly denied any role in the attack, which Putin also blamed on “international terrorism”. People laid flowers at Crocus City Hall, the 6,200-seat concert hall outside Moscow where four armed men burst in on Friday just before Soviet-era rock group Picnic was to perform its hit Afraid of Nothing. The men fired their automatic weapons in short bursts at terrified civilians who fell screaming in a hail off bullets. Ukrainian President Volodymyr Zelenskiy said it was typical of Putin and “other thugs” to seek to divert blame. In video footage published by Russian media and Telegram channels with close ties to the Kremlin, one of the suspects said he was offered money to carry out the attack. “I shot people,” the suspect, his hands tied and his hair held by an interrogator, a black boot beneath his chin, said in poor and highly accented Russian. When asked why, he said: “For money.” The man said he had been promised half a million roubles (RM23,684). One was shown answering questions through a Tajik translator. – Reuters
11 MONDAY | MAR 25, 2024 Strive to foster culture of happiness MY inner resolve strained against the mounting pressure, but ultimately, I yielded to the urge to express my thoughts on an issue that does not seem to go away. It is baffling how in Malaysia, matters are often magnified for political gain. The recent uproar over the socks issue is a testament to this phenomenon. Despite the outlet owner issuing a public apology and prominently displaying apology notices at all the outlets, the issue continues to linger and escalate, consuming valuable time and energy. Prime Minister Datuk Seri Anwar Ibrahim has also called for good sense to prevail, and yet it is not dying down. One cannot help but wonder what do those perpetuating this issue hope to achieve? Is it a quest for power, a desire to maintain relevance or to perhaps derail the government’s efforts to unite Malaysians? This incessant need to amplify matters at the expense of the country’s well-being is not just harmful but symptomatic of a deeper societal ailment. Anyway, what do you call stranger than strange? Bizarre? And that is what politics is, and it is not for faint-hearted and straight-thinking people. Politics has the unique ability to do the impossible and the unthinkable. Undoubtedly, the occurrence of such an incident is regrettable and should not have happened. It represents a significant oversight on the part of the chain owner. Adequate reprimands and rebukes have already been directed towards them, prompting the question: what further action should be taken? Should we advocate for persecution, capital punishment or extreme measures, such as the death penalty? However, dwelling excessively on such issues can drag us into a quagmire of negativity, detracting us from our pursuit of more important matters, such as happiness. Why is happiness so crucial? The answer lies in its profound impact on our overall well-being. Simply put, a happier disposition correlates with a longer lifespan, fewer health complications and a more positive impact on ourselves and those around us. In a landmark study initiated in 1938, researchers at Harvard University embarked on a comprehensive investigation into the key determinants of happiness in life. Over the course of 85 years, data was collected from 724 participants worldwide, with detailed inquiries conducted at two-year intervals. Contrary to common assumptions, the findings defied conventional wisdom. It was not career success, financial wealth, physical exercise or dietary habits that emerged as the primary contributors to happiness. Instead, the most consistent and compelling factor was the quality of our relationships. Positive connections with others will not only enhance our sense of happiness but also contribute significantly to our overall health and longevity. The impact of relationships is not merely psychological as it extends to our physical well-being as well. Consider the surge of energy following a meaningful conversation or the toll taken by sleepless nights during periods of strained relationships. To nurture and maintain healthy relationships, it is imperative to prioritise what can be termed “social fitness”. Contrary to the assumption that once established, relationships will naturally thrive, they require ongoing attention and effort. Much like a living organism, our social lives demand regular exercise and care to flourish. When we dwell on negative issues, it inevitably colours our perceptions of others, impacting the relationships we share with those in our vicinity, whether acquaintances or strangers. But, can we have relationships with people we do not know? In a sense, yes, as we coexist within communities that collectively form the nation we take pride in. However, persistent negative thoughts can sour our interactions and breed unhappiness. This will propagate itself as individuals mired in discontentment often seek solace by spreading their misery to others. Yet, as the adage goes: “happiness shared is doubled”. Why not strive to foster a culture of happiness within our nation? Finland has once again claimed the title of the happiest country in the world as per The World Happiness Report. This marks the seventh consecutive year that Finland has topped the list, a remarkable feat indeed. The ranking is determined by self-assessed life evaluations and responses to the Cantril ladder question, in which individuals rate their current lives on a scale from zero to 10. The Well-being Research Centre at Oxford University, responsible for publishing the report, considered various factors when assessing over 130 countries. In addition to the Cantril ladder question, these factors included social support, healthy life expectancy, freedom to make life choices, generosity, perceptions of corruption and gross domestic product. Finland’s top-ranking score can be attributed, in part, to its strong sense of community and connectedness. As Finnish philosopher and psychology researcher Frank Martela suggests, Finnish people find happiness through altruistic actions, communal bonds and a clear sense of purpose. In our country, we have politicians who tirelessly strive to maintain a state of turmoil and discontent, perpetuating a cycle in which happiness always seems out of reach. Comments: letters@thesundaily.com “Positive connections with others will not only enhance our sense of happiness but also contribute significantly to our overall health and longevity. Earth Hour, catalyst for sustainable change AS Malaysians, we are no strangers to the hustle and bustle of daily life. Yet, amid our routines, we find ourselves grappling with an escalating climate crisis, manifested in the form of intensifying heatwaves. Prolonged periods of scorching heat and dry weather are not merely discomforting, they create conditions conducive to wildfires and pose serious health risks, especially for vulnerable groups such as children, the elderly and those with respiratory issues. As global temperatures rise, the risks of heat stroke and exhaustion heighten for everyone, from outdoor workers to crowded commuters. Our infrastructure is also feeling the strain, with roads buckling under the heat and overheated vehicles causing disruptions in travel, including air transport. The spectre of power outages looms large, adding to the concern. High demand for electricity to combat the heat can overload the grid, leading to blackouts. Imagine being stuck in sweltering heat with no relief in sight, a nightmare scenario that we can no longer ignore. In the face of these challenges, where does Earth Hour fit in? Earth Hour, usually celebrated on the last Saturday of March, which this year fell on March 23, is an initiative by the World Wide Fund for Nature and is more than just a symbolic gesture. It serves as a stark reminder of the urgent need for collective action on climate change. While turning off our lights for an hour will not solve everything, it sparks conversations, raises awareness and inspires change. Earth Hour encourages individuals, communities and businesses to turn off non-essential lights from 8.30pm to 9.30pm. It is an opportunity for unity in environmental stewardship and raising awareness about climate change and energy conservation. However, the spirit of Earth Hour should not be confined to one hour, it should serve as a springboard for sustained action. According to a study, Earth Hour events worldwide have resulted in an average reduction of electricity consumption of 4%, with some regions achieving reductions as high as 28%. While the goal of Earth Hour is not to achieve measurable electricity savings, these collective events illustrate how purposeful behaviour can quantitatively affect regional electricity demand. Here are five constructive steps that we can adopt. 0 Take the time to educate yourself about climate change and its impact on Malaysia. Understanding the science behind climate change is crucial in advocating for meaningful action. 0 Conduct an energy audit at home. Beyond just turning off lights, unplug electronic devices and appliances not in use. Opt for energy-efficient lighting and appliances to reduce your carbon footprint. 0 Use your voice to advocate policies and initiatives that promote renewable energy, sustainable transportation and environmental conservation at local, national and global levels. 0 Incorporate sustainable practices into your daily life, such as reducing Earth Hour is about understanding the science, acknowledging the urgency and taking collective action to mitigate the impact of climate change. – AFPPIC CLIMATE VOICE BY MOGESH SABABATHY P8: NEW COLUMN: Green Inspiration LOGO with photoHEADLINE: single-use plastics, recycling diligently, conserving water and supporting local eco-friendly businesses. 0 Be a catalyst for change in your community by inspiring others to join the movement for a greener and more sustainable future. Climate change is a global crisis that requires a global response. As Malaysians, we are already experiencing the effects of climate change, with rising temperatures, increasing frequency of heatwaves and changes in precipitation patterns leading to more frequent droughts and floods. The latest reports from the Intergovernmental Panel on Climate Change and the World Meteorological Organisation confirm that the global average near-surface temperature is 1.45°C above the pre-industrial baseline, making 2023 the warmest year on record. Therefore, Earth Hour is not just about switching off lights, it is about igniting our determination to build a sustainable future. It is about understanding the science, acknowledging the urgency and taking collective action to mitigate the impacts of climate change. Let us use Earth Hour as a catalyst for change, inspiring us to make sustainable choices not just for an hour but every day, every month and every year. It is time to shift our perspective from “So what?” to “So much”. The writer is a youth climate champions consultant at Unicef Malaysia, national consultative panel member to the Natural Resources, Environment and Climate Change Ministry, member of the Official Youth Constituency of the United Nations Framework Convention on Climate Change, co-founder of Project Ocean Hope and a PhD candidate at Universiti Putra Malaysia. Comments: letters@thesundaily.com
BANKING & INSURANCE BANKING & INSURANCE 12 MONDAY | MAR 25, 2024 KUALA LUMPUR: The overall profitability of insurance and takaful funds was lower in the second half of 2023 (H2’23) compared with H1’23 due to larger net underwriting losses of life insurance and family takaful funds amid a sustained increase in medical claims payments. In its Financial Stability Review for H2’23, Bank Negara Malaysia (BNM) said consequently, the profitability of life insurance and family takaful funds, as measured by excess income over outgo, declined to RM3.1 billion from RM6 billion in H1’23. “Underwriting income of life insurance and family takaful funds continued to be weighed down by higher medical benefit payouts (H2’23: RM5.3 billion; H1’23: RM4.7 billion) “Underwriting income was also weighed down by the longer-term decline of participating insurance business, where payouts related to participating insurance policies have surpassed net premium income,” the central bank said. It added that the share of net premiums for participating businesses correspondingly declined sharply to 16% of total net premium income (H2’22: 17%). Nonetheless, sustained growth in total new business premiums continued to provide support to overall earnings. After accounting for seasonality effects, new business premiums in H2’23 improved by 6.8% year-on-year, supported mainly by the investment-linked and non-participating segments. Overall, excess income over outgo rose to RM9.1 billion in 2023 compared with RM2.6 billion in 2022. Meanwhile, operating profit for general insurance and takaful funds improved to RM1.9 billion in H2’23 from RM1.3 billion in H1’23, contributed by higher net underwriting profit, largely attributable to higher premium growth in the motor segment amid continued improvements in risk-based pricing. “Sustained investment income lent further support to the operating profits of general insurance and takaful funds for 2023. This resulted in a slight increase in the annual operating profits relative to that of the previous year (2023: RM3.2 billion; 2022: RM3.1 billion),” it added. On the industry aggregate capital adequacy ratio, BNM said it remains healthy at 222.2% (June 2023: 226.4%), while aggregate capital buffers in excess of regulatory requirements also remained sound at RM38.6 billion (June 2023: RM38.9 billion). Moving forward, BNM said volatile financial market conditions would remain a key downside risk to insurers and takaful operators (ITOs) in 2024, given their sizeable bond and equity investments. “Sustained cost pressures stemming from inflation in motor and medical claims are also likely to persist amid a more gradual pace of premium rate adjustments to preserve insurance affordability,” it said. The central bank said it will continue to monitor closely the ongoing phased liberalisation of tariffs in the motor and fire segments to ensure that the pricing flexibility is aligned with the expanded phased liberalisation limits. “This is to ensure that the pricing flexibility is aligned with the expanded phased liberalisation limits, and to prevent market dislocations that could hinder access to coverage or disproportionately impact segments of the insured population,” it said. – Bernama Insurance, takaful funds’ profitability lower in H2’23 oBank Negara cites larger net underwriting losses amid sustained increase in medical claims payments PETALING JAYA: Hong Leong Islamic Bank (HLISB) has rolled out BizHalal, an all-in-one integrated Islamic banking solution aimed at helping businesses, particularly small, medium enterprises (SME), to operate within the halal industry. Through BizHalal, HLISB offers syariahcompliant financing to help fund halal businesses, complemented by advisory support from its in-house halal industry specialists. The offering was launched at a recent memorandum of understanding signing ceremony between HLISB and Halal Development Corporation (HDC), officially inducting the bank as HDC’s partner in promoting and developing the halal industry. HLISB CEO Dafinah Ahmed Hilmi noted that the halal industry has been identified as a growth segment for the bank since 2018 and it is committed to rejuvenating the sector by championing local halal SME as well as pledging towards halal financing through HDC. “We see substantial growth potential in the halal industry, and we took steps to enhance our expertise by adding halal specialists to our team in 2023. “We also note an increasing demand for financing among customers within the halal industry. Developing BizHalal as an all-inclusive advisory package is a testament to our commitment to nurturing the growth and success of businesses, especially SME in the halal sector,” she said in a statement. Dafinah said that in line with its brand promise of being “Built Around You”, the solution offers financing opportunities as well as tailormade halal advisory support catered to its customers’ specific needs. “We envision this programme being a catalyst in fostering a thriving halal ecosystem that businesses and the country’s economy can benefit from,” she added. According to HDC’s analysis, demand within the global halal segment has grown to US$3 trillion (RM14 trillion) in 2020, marking the sector’s significant economic importance. With Malaysia’s halal industry projected to expand to US$113.2 billion (RM530 billion) by 2030, with an expected gross domestic product contribution of 8.1% by 2025 through the Halal Industry Master Plan 2030, there is a need for increased supply and investment into the domestic halal space. Meanwhile, HDC chairman Khairul Azwan Harun said that out of the 10,000 halal-certified companies in Malaysia, only around 2,000 are exporters. He added that SME contribute to about 10% of the total halal export value. Starting third from left: Khairul Azwan, HDC CEO Hairol Ariffein Sahari, Dafinah and HLISB chairman Datuk Dr Md Hamzah with other representatives at the BizHalal MoU signing ceremony. Takaful Ikhlas General introduces digital roadside assist service PETALING JAYA: Takaful Ikhlas General Bhd has introduced its digital road assist service, Bantuan IKHLAS Road Assist Self-Service, a complimentary benefit for its motor takaful certificate holders. With the new feature, Takaful Ikhlas aims to elevate customer experience to new heights by delivering fast, efficient and reliable service when roadside assistance is sought. This road assist service focuses on customer convenience through digitalisation where it enables customers to pinpoint the precise location of their stranded vehicles, select preferred workshops to suit their preferences and receive notifications via WhatsApp. One of the most significant advantages of this service is its ability to inform customers through WhatsApp on service request acknowledgement and allowing them to track the progress of their tow truck service in real time. This seamless coordination and clear communication ensures both parties are informed throughout the journey. “We aim to redefine the standards of roadside assistance and uphold our commitment to delivering reassurance in times of need, especially during festive seasons like the coming Hari Raya Aidilfitri. Bantuan IKHLAS Road Assist Self-Service allows customers to handle emergency situations with ease and speed. As such, we want to elevate our customer experience from the moment a request for assistance is received up to the resolution of the issue, customers should feel at ease and secure,” said Takaful Ikhlas General president and CEO Datuk Rudy Rodzila Che Lamin. IPC Shopping Centre, Alliance Bank honour 20 ‘Little Eco-Heroes’ PETALING JAYA: IPC Shopping Centre, in collaboration with Alliance Bank, honoured 20 winners of its Little Eco-Heroes Awards 2024 in a grand final ceremony recently. Out of 40 finalists, 20 winners were announced in both individual and group categories for primary and secondary schools. Each Little EcoHero was recognised as champion for outstanding creativity, practicality, innovation, aesthetics and commitment towards sustainability in the respective category. IPC Shopping Centre general manager Karyn Lim said it shared similar passion with its partner, Alliance Bank, towards sustainability to drive initiatives such as the Little Eco-Heroes Awards. “It is truly inspiring to see so many children and youths coming together to explore ways to make a real difference in sustainability and community well-being. As we wrap up our Little Eco-Heroes Awards, we hope that this would be the beginning of a journey to a greener future,” she said in a statement. Alliance Bank marketing and business development officer (group chief strategy) Dr Aaron Sum said that in line with its renewed brand purpose, “The Bank for Life”, it aspires to engage with and serve the communities where it operates. He said the bank demonstrate this commitment through supporting platforms such as the Little Eco-Heroes Awards, which aims to encourage the younger generation to actively participate in contributing to the betterment of the community, in the hope of leaving a positive impact on the environment. “We are proud to be part of this meaningful initiative that enables both children and youth a stage to shine, inspiring them to become ambassadors of change,” Sum said. Hong Leong Islamic Bank’s BizHalal offers financing, advisory services From left: IPC Shopping Centre deputy general manager Mark Tan, Sum, Education Ministry cocurriculum development and excellence unit, sports, co-curricular and arts division assistant directors Dr Mohd Azly Zakaria and Rizawani Mustafa, Lim and Alliance Bank group digital, marketing and branding head Shayne Koh at the ceremony.
MONDAY | MAR 25, 2024 Editorial T: 03-7784 6688 F: 03-7785 2625 E: sunbiz@thesundaily.com Advertising T: 03-7784 8888 E: advertise@thesundaily.com SCAN ME KUALA LUMPUR: Raiz Malaysia Sdn Bhd aims to increase its accounts to over 450,000 this year, driven by its goal to help Malaysians to save through spending. “Our target is not sophisticated investors, but more towards average Malaysians on the street who find it difficult to start saving because of the huge amount required by investment bankers or banks,” Raiz CEO Aidi Izham (pic) told SunBiz. “So that’s why we remove those barriers and make it very low for one to start investing.” He said that initially its long-term goal is to onboard 1% of the Malaysian population, which is about 300,000 users. As at Feb 29, he disclosed that it has about 404,000 accounts registered to its app. Aidi said that its new target this year will be to reach more than 450,000 accounts. “Our target will always be to onboard as many Malaysian as possible, to be our users,” he added. He explained that the financial services app works by allowing users to invest small amounts of money into a diversified portfolio of assets. The app utilises an in-built rounding-up feature, whereby it automatically rounds up your everyday purchases in ringgit and invest the spare change through debit card usage. Besides round-ups, users may invest lump sum amount or set their recurring investments on a daily, weekly, fortnightly or monthly basis. In terms of asset under management (AUM), it manages about RM50 million to date. He explained that the company’s main focus is not to solely grow its AUM but rather on increasing the number or accounts. On the other hand, he said it plans to discuss with Employees Provident Fund (EPF) to explore the possibility of a collaboration between the two. “We have a very strong value proposition, because looking at figures, the demographics of our investors, they are average Malaysians, quite a significant number work in informal sectors or are gig workers and EPF is targeting to help gig workers, if it could materialise it would be beneficial for the workers.” He said that one of the solutions it could explore with EPF is by developing a solution that targets gig workers, which could help them save for their retirement through spending. “For example, if the gig worker fills up their tank at a petrol station at RM10.30, it would round up to RM11, the spare change would go towards their EPF account. “We are a spare change player, we don’t aim to change spending behaviour, but rather to spend and save as they go and it could ultimately, go towards their retirement fund,” he added. He reckoned that if it collaborates with EPF, it would not be limited to only gig workers, albeit also for all EPF members as a whole, through linking an EPF member with their Raiz account. In terms of outlook, he reckoned that the electronics and electrical products (E&E) industry fuelled by artificial intelligence will be strong for the year due to recent global developments. “We are very optimistic that (E&E) will continue to (flourish) for the whole of 2024,” said Aidi, noting that there will be ups and down in terms of investment but he reckoned that the industry will continue to thrive. Helping Malaysians save through spending oRaiz aims to increase accounts to 450,000 this year Legal suits will not help win trust of consumers: PR expert PETALING JAYA: Legal suits will not help you win the trust of consumers and enhance brand reputation, said Public Relation Global Network president Andy See (pic). Instead, he emphasised the necessity of aligning communication efforts with business objectives and address evolving communication trends and issues globally. “I would think from a consumer point of view, I think it’s important that you win the trust of the consumers through engagement and communication. Legal suit will not help you win the trust of consumers. I would say if you talk to me about how to win consumers, I wouldn’t choose the legal approach. To me, winning consumers is about engagement, about communication,” See told Sunbiz in an interview. However, See noted the complexities that arise when a brand’s actions or communications as it can be considered acceptable in one cultural context but can be perceived differently or even negatively in another. “Whatever you do may be politically incorrect. You do something in the US, it could be a political minefield here in Malaysia. So you will get boycotts, you will get consumer uproar.” These are things brands need to navigate very carefully although he doesn’t think there is a foolproof way, he said. “But it’s just that when we do something, we need to be aware that there are repercussions. Well, of course, sometimes you have no choice.” See said the effectiveness of communication depends on how well it serves the original goals and purposes established within an organisation. “Clarity regarding our goals and desired outcomes is paramount. If our communication efforts allow us to achieve our business objectives, then they can be considered successful. And if they fall short of helping us in reaching our desired outcomes, it means there is a need for refinement,” he said. He cited that McDonald’s Malaysia, through its franchise owner Gerbang Alaf Restaurants Sdn Bhd, initiated legal action against BDS Malaysia last year and sought damages and injunctions in response to the movement’s calls for boycotting McDonald’s. However on March 22, McDonald’s Malaysia announced the withdrawal of the lawsuit following the positive outcome of the mediation between the parties. – by Hayatun Razak Ringgit likely to trade in narrow range versus US dollar this week KUALA LUMPUR: The ringgit is expected to trade in a narrow range of 4.73 to 4.74 against the US dollar this week, with technical analysis suggesting the US$/RM to be in the neutral zone, said Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid. He said the recent policy rate cut by the Swiss National Bank by 25 basis points to 1.50% has strengthened the greenback further, as the US Federal Reserve (Fed) is not about to cut the rate in the immediate term. “In a grand scheme of things, the US dollar really stands out. The recent rate hike by the Bank of Japan also failed to lift the Japanese yen as the prospects for higher rates in Japan is still uncertain,” he told Bernama. On that note, Mohd Afzanizam said the US dollar is in the sweet spot. “The prevailing Fed Fund Rate, which is currently at 5.50, does give the greenback an edge in respect to the interest rate differential,” he added. On a Friday-to-Friday basis, the ringgit weakened to 4.7340/7390 against the greenback compared with 4.7050/7095 a week earlier. The local note, however, traded higher against most major currencies. It improved vis-a-vis the Japanese yen to 3.1223/1258 from 3.1637/1669 a week earlier, higher against the British pound to 5.9582/9645 from 6.0003/0060 and rose against the euro at 5.1203/1257 from 5.1275/1324 previously. The ringgit also traded higher against Asean currencies. It appreciated to 13.0116/0318 against the Thai baht from 13.1480/1661 last Friday and gained versus the Singapore dollar to 3.5106/5145 from 3.5183/5219 a week ago. – Bernama █ BYGLORIA HARRY BEATTY sunbiz@thesundaily.com Eco Business Park V aims to become prime investment destination PUNCAK ALAM: Eco World Development Group Bhd is confident its largest green business park, Eco Business Park V (EBP V) will become a prime investment destination with a strong local and global appeal. Eco World Development Group Bhd divisional general manager Eco Central Ho Kwee Hong said the impending completion of the RM150 million LATAR Express Interchange by the end of 2024 is set to enhance its connectivity. “Currently the construction is ongoing at site and is happening very well and construction will be completing by end of this year. And by Q1 2025, basically we will open it for traffic in Q1’25,” she said at the signing for the purchase of industrial land and factories land EBP V involving Central Gate, North Gate and West Gate last Friday. Ho said EBP V provides business spaces featuring ready-made factories and customisable industrial land, as well as outstanding infrastructure with environmentally friendly amenities and top notch safety features. “I foresee our business park will be successfully evolving into a hub that is capable of attracting local and also international investors and fostering strategic partnership for mutual growth of everyone who reside in our business park,” she said. Eco World Development Group Bhd’s 769 acres green business park, EBP V has signed agreements with 11 new companies for the purchase of land and factory lots. EBP V is part of the Eco Grandeur township that is currently being developed via a joint-venture between EcoWorld Malaysia and the Employees Provident Fund. A memorandum of understanding (MoU) was also signed between EcoWorld and GoldenHome Living Co Ltd to establish a strategic partnership in providing housing furniture such as kitchen cabinets, wardrobes and innovative product packages for EcoWorld’s residential, commercial and industrial developments. This is the second signing event of EBP V. Last year, EBP V held a similar event with more than 15 companies from various sectors signing on to various businesses at the park and some of the industrialists have started their business in EBP V now. With a total GDV of RM3.5 billion, the green industrial park spans 769 acres across five meticulously planned phases: East Gate, West Gate, North Gate, Central Gate and South Gate. Since its launch in 2017, EBP V has attracted over 400 diverse enterprises from various industries and its West, North and Central Gates are fully sold out. Meanwhile, East Gate has been fully completed with an occupancy rate of over 90%. “As one of our four revenue pillars, Eco Business Parks contributed a record-breaking RM1.04 billion to the Group’s total RM3.6 billion sales in FY2023,“ Eco World president and CEO Datuk Chang Khim Wah said in a separate statement. “This pillar has seen exponential growth in recent years recording an overwhelming increase in sales of 374% from FY2020, Eco Business Parks will continue to be a magnet, attracting more regional and international investors and industrialists.” █ BYHAYATUN RAZAK sunbiz@thesundaily.com
BIZ & FINANCE BIZ & FINANCE MONDAY | MAR 25, 2024 14 Capital A’s ADE plans to double revenue with new KLIA hangar KUALA LUMPUR: Asia Digital Engineering (ADE) is well positioned for substantial growth in the coming years as plans are underway to establish a new maintenance, repair and overhaul (MRO) hangar facility at the Kuala Lumpur International Airport (KLIA), its CEO Mahesh Kumar said. ADE is the engineering and maintenance unit of Capital A Bhd. Mahesh expressed confidence that revenue will double by 2025 and progressive growth thereafter. The new hangar facility, spanning 8.19ha, is being constructed in two phases, with Phase 1 slated for completion in May 2024 and operational by August, while Phase 2 will follow swiftly, with operational readiness anticipated by October this year. Mahesh Kumar revealed that the hangar facility will also see Phase 3 coming up once Phase 2 is completed, and the company has a first right of refusal with Malaysia Airports Holdings Bhd for a 2.07ha piece of land near the facility in KLIA. “The soil testing work has begun (for phase 3), and we are planning to start construction once the second phase is ready, expecting completion by the end of 2026,” he told Bernama. Mahesh said the hangar facility’s Phase 3 will accommodate another oUpon completion of Phases 1 and 2, facility will make Asia Digital Engineering the largest MRO provider in Malaysia BSN, Payhunter turn 24 Ramadan bazaars in KL to go cashless KUALA LUMPUR: Bank Simpanan Nasional (BSN) together with Tech Hunter Global Sdn Bhd (PayHunter) has introduced BSN’s DuitNow QR Soundbox, a digital payment terminal to facilitate cashless transactions for ramadan bazaar stall vendors. The BSN DuitNow QR Soundbox is available and activated across 24 selected ramadan bazaar spots in Kuala Lumpur to benefit vendors and customers alike. This deployment follows last year’s #TechMeToBazaar event at ramadan bazaar TTDI, demonstrating BSN and PayHunter’s commitment to enhancing the digital commerce landscape and empowering micro, small and medium enterprises (MSME) with digital capabilities. The Dynamic BSN DuitNow QR Soundbox is expected to be rolled out in the next quarter. BSN and PayHunter will also continue to upgrade the QR Soundbox, offering a new feature where merchants can input product prices directly into the device that generates a QR code. BSN CEO Jay Khairil said the partnership with PayHunter underscores the bank’s commitment to enhancing productivity and promoting business expansion among MSME through digital transformation. “This year, we are back with an even better proposition for the vendors. In conjunction with BSN’s 50th anniversary celebration and BSN’s digitalisation initiative, we offer digital payment solutions through the use of BSN DuitNow QR Soundbox Static to vendors participating in ramadan bazaars at selected locations around the capital city. “With the presence of these QR Soundbox devices, I am confident that we can inject enthusiasm among traders to use safe and fast digital payment methods for cashless transactions,” he said during the launch of TechMeToBazaar at the ramadan bazaar Jalan Kuching last week. Meanwhile, Tech Hunter CEO Jenson Wong said the PayHunter has taken the initiative to offer vendors a more secure and faster way to receive payments, following the success of previous ramadan bazaar in the year prior as well as the increasing interest of Malaysians in cashless transaction. █ BYGLORIA HARRY BEATTY sunbiz@thesundaily.com MNRB issues RM420m sukuk murabahah, buoyed by strong demand KUALA LUMPUR: MNRB Holdings Bhd has issued RM420 million subordinated Sukuk Murabahah (issuance) pursuant to the sukuk programme of up to RM420 million in nominal value for the issuance of senior and/or subordinated Sukuk Murabahah, which was recently upsized as announced on Feb 9. The exercise had garnered keen interest from a well-diversified group of investors comprising asset managers, financial institutions, government agencies and high-net worth individuals. The issuance was concluded via a book building exercise resulting in a final orderbook of over RM2.2 billion and a final profit rate of 4.46% per annum. Proceeds raised from the issuance has been earmarked to early redeem MNRB’s existing subordinated Sukuk Murabahah of RM320 million on its first call date on March 22 and the remaining RM100 million shall be utilised to strengthen and expand the group’s shariah compliant value chain, namely the family takaful, general takaful and retakaful businesses, as well as management of MNRB’s existing and future financing needs. The subordinated Sukuk Murabahah is rated A1/Stable by RAM Rating Services Bhd. AmInvestment Bank Bhd, Affin Hwang Investment Bank Bhd, and RHB Investment Bank Bhd were the joint lead managers for the issuance. HSI warrants see position taking as futures seesawed OVERALL structured warrants trading activity recorded a modest increase for the week ended March 22, 2024. The total value traded reached RM563.6 million, up from RM534.7 million the previous week which represents a week-on-week (w-o-w) increase of 5.4%. The average daily turnover settled at RM112.7 million. Breaking down the activity by underlyings, warrants over the Hang Seng Index (HSI) dominated the market, accounting for 70.1% of the total turnover with a 0.65% w-o-w increase in their turnover, while warrants over Malaysia stocks followed, capturing 28.7% of the total turnover and reflecting a 19.4% rise w-o-w. The HSI futures saw a volatile week, oscillating between gains and losses. The March contract opened slightly higher but dipped 1.2% on Tuesday. Then, a brief recovery on Wednesday (+0.2%) was followed by a surge of 1.7% on Thursday, fuelled by positive earnings from major tech companies. However, the momentum was shortlived as prices subsequently tumbled 2% on Friday as a weakening Yuan, negative earnings guidance and a strengthening greenback dampened risk appetite. The HSI futures ended with a weekly loss of 1.2%. With the moves, the call warrant HSI-CVB was the top traded warrant by value with a total value traded of RM95.3 million and a whopping 513.3 million units changing hands. Notably, this warrant saw investors net buying over 69.8 million units, leading to this warrant being sold-out. Other HSI call warrants that were active during the week were HSI-CTK and HSI-CVH which registered RM60.2 million and RM28.1 million in value traded respectively. In Malaysia, warrants over YTL Power International (YTLPOWR) continued to be popular. YTLPOWRC42 and YTLPOWR-C38 logged RM10.1 million and RM3.6 million in total turnover respectively as the underlying extended gains for a second straight week to close 5.2% higher. Other warrants over local underlyings which were on investors’ radar were SPSETIAC72 and SUNWAY-C20 which saw up to 29.3 million and 23.6 million units traded after their underlyings rallied by 22% and 15.6% w-o-w respectively. Other than that, warrants over the Nikkei 225 Index (NIKKEI) also saw a rise in interest with the underlying surging 6% w-o-w, back above the 40,000 level. Earlier in the week, the WARRANTS WATCH Top warrants by value traded Warrant Value Issuer Exercise Expiry date name (RM’ mil) level HSI-CVB 95.3 Macquarie 17,400 29 April 2024 HSI-HUE 91.7 Kenanga 15,000 30 May 2024 HSI-CTK 60.2 Kenanga 18,500 29 April 2024 HSI-HSY 29.3 Macquarie 16,400 29 April 2024 HSI-CVH 28.1 Macquarie 16,800 30 May 2024 Bank of Japan ended its negative interest rate policy and raised its short term policy rate to a range of 0% to 0.1%, carrying out its first rate hike in 17 years (NikkeiAsia, March 21). To view the full list of structured warrants available on Bursa Malaysia, kindly visit malaysiawarrants.com.my. Provided for Malaysian residents information only. This commentary has not been reviewed by the Securities Commission Malaysia. It is not an offer or recommendation to trade and is not research material. Past performance is not indicative of future performance. You should make your own assessment and seek professional advice. The Warrants will not be offered to any US persons. four lines of narrow-body aircraft. Upon the completion of Phases 1 and 2, the hangar facility will make ADE the largest (MRO) service provider in Malaysia and one of the largest in the region. Mahesh further stated that the new hangar facility would provide flexibility for ADE to service widebody aircraft such as A330 and B737 types. Designed in an ‘L’ or boomerang shape, the facility would allow for maximum land use and more hangar lines. It consists of two main sections, Hangar A (Phase 1), which can accommodate both narrow-body and wide-body aircraft, while Hangar 2 (Phase 2) is designed exclusively for narrow-body aircraft. The facility could house 14 narrowbody aircraft or a combination of eight narrow-body and two wide-body aircraft simultaneously. “A new taxiway will be build to facilitate aircraft movement to and from the hangar,” he said. Mahesh added that the US$100 million (RM474 million) investment secured from OCP Asia Ltd last year to construct and operate the new hangar would also be sufficient to construct Phase 3. Currently, ADE has a four-line hangar in Subang and a two-line hangar in Senai, Johor Baru, and a one-line maintenance facility in KLIA. Mahesh said the company is eyeing line maintenance operations in the Philippines, Indonesia, Cambodia, and Thailand. He said operations in the Philippines and Cambodia are expected to begin by the first half of 2024, and Indonesia and Thailand in the second half of the year. He added that ADE had obtained approvals from the respective aviation authority’s approval to service aircraft from Thailand, the Philippines, Cambodia, Nepal, and Indonesia and is eyeing approvals from more countries in an effort to expand its operations. Mahesh said obtaining the European Union Aviation Safety Agency (EASA) Part 145 Approval last November was the biggest assurance in bringing the business to greater heights. “With the EASA approval, we look towards servicing more foreign countries. “Although the new hangar is not completed yet, the slots are fully booked for the end of this year. “So, the earliest we can look to dive into the foreign market would be next year,” he said. On Dec 7, 2023, ADE recorded its 100th ‘C-Check’, a comprehensive maintenance inspection, under two and a half years, a record time frame since inception in September 2020. Meanwhile, Mahesh said there is a potential for ADE to be listed in Bursa Malaysia in the future. “Definitely, we aspire to get ADE listed. You know, but you never say no,” he said without mentioning a timeframe for the listing. He also opined that the new hangar facility would likely speed up the potential listing process as the revenue would grow once ADE commences operations at KLIA. “In terms of listing plan, Capital A has various businesses under its portfolio that have listing potential. “The group would have to balance the priorities between each business’s growth strategies and funding and evaluate the right listing timing to maximise shareholder value. So, let’s see where it goes,” he added.
BIZ & FINANCE BIZ & FINANCE MONDAY | MAR 25, 2024 15 Enclosed is my payment of RM payable to SUN MEDIA CORPORATION SDN BHD. 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Muruku Buntong entrepreneur’s Deepavali snack, made from a still a national favourite 60-year-old recipe, is constantly in high demand. Chicken price float benefits consumers A week after subsidies ended, market prices are competitive and lower than subsidised prices, says expert. Full report —on page 3 Full report —on page 6 Full report —on page 4 Citing protection of country’s interests in terms of diplomatic, economic relations and security as reasons for joining meeting, Anwar says he remains steadfast in defending justice and rights of Palestinians. I will show up at Apec Story on page 2 Full story -on page 2 SCAN TO SUBSCRIBE CGT unveils two modules with diverse features personal savings and retirement planning, the government has recently announced for a CGT exemption for unit trusts. Given that trust bodies are still in-scope for CGT and hence there are implications on legacy planning or wealth succession planning. For avoidance of doubt, individuals who are active in trading of shares may be regarded as carrying on a business and be subject to income tax (not CGT). This is determined based on the principles of badges of trade. Real Property Gains Tax (RPGT) applies on disposal of real property as well as shares of property-rich companies (technically termed as Real Property Companies or RPC Companies). Gains arising from disposal of real property such as land & building continue to be in the scope of RPGT and is not affected by the introduction of CGT. Given that shares are in-scope of CGT, an exclusion clause been included in the RPGT Act effective Jan 1 to exclude gains arising from disposal of RPC shares from the scope of RPGT in cases where the disposer is a company, LLP, trust body or cooperative society. This ensures there is no double taxation between CGT and RPGT. RPGT continues to apply in respect of sale of real properties and, for certain category of disposers (e.g. individuals), on sale of shares of RPC Companies – i.e. transactions which are not in-scope of for CGT. The nature of CGT does not affect the prices of goods or cost of living. It may have an impact on the investment climate though, but the impact may be limited given the wide treaty network that Malaysia has in place, the exclusion of Malaysian listed companies from the scope of CGT and the exemptions made available. It is hoped the conditions to qualify for exemption would not be too stringent. Further, the introduction of CGT on foreign source income effective Jan 1 ensures that Malaysia is compliant with the international best practices. In fact, Singapore introduced CGT effective Jan 1 for the same reason. Hong Kong too made substantial changes to its CGT regime to be in line with the international best practices, i.e. EU’s Code of Conduct on Business Taxation. Compliance to these is vital for any open economy to be attractive to foreign direct investments and for international trade. Taxpayers should be aware that the scope of CGT on foreign-source gains is much wider than domestic gains. For domestic transactions, the wide definition for the term “disposal”, which is the trigger for CGT should not be overlooked. It is vital to obtain professional inputs prior to undertaking any transaction or restructuring exercise. This article is contributed by Tratax Sdn Bhd executive director Thenesh Kannaa (pix), author of the RPGT handbook & chairman of the Chartered Tax Institute of Malaysia’s technical committee on direct tax. Bursa Malaysia likely to be in consolidation mode this week KUALA LUMPUR: Bursa Malaysia is expected to remain in consolidation mode amid the absence of fresh catalysts. Apex Securities Bhd head of research Kenneth Leong anticipates the FBM KLCI to range in the 1,530-1,560 level this week. “Investors will be keeping tabs on key economic data such as Malaysia’s inflation rate today and the producer price index on Wednesday. “Globally, the US fourth quarter 2023 (Q4’23) gross domestic product data will be closely watched to provide further guidance in the coming months interest rate direction,“ he told Bernama. Meanwhile, Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the benchmark index remained within a consolidative range of between 1,532 and 1,557 the past week. “Despite this consolidation, the FBM KLCI was consistently above the 50-day exponential moving average (EMA) line. “We, therefore, maintain the view that the benchmark index is still consolidating with a slight positive bias, with expectations of it hovering around the 20-day EMA,“ he said. Thong said the 1,508-1,520 level may be re-tested if selling pressure persists. He anticipates the FBM KLCI to trend within the 1,527-1,560 range this week with immediate resistance at 1,570 and support at 1,520. On a Friday-to-Friday basis, the FBM KLCI fell 10.44 points to 1,542.39 from last week’s 1,552.83. EFFECTIVE Jan 1, capital gains arising from disposal of foreign assets are subject to capital gains tax (CGT) at the prevailing income tax rate (for example, 24% if the disposer is a non-SME company). This includes all movable & immovable assets; including shares of companies listed in any overseas stock exchange and real estate situated outside of Malaysia. The tax applies only when the gain is remitted into Malaysia, and exemption applies if the disposer meets the economic substance requirements. Effective March 1, CGT also applies on gains arising from disposal of domestic assets. The key features are: CGT on domestic gains is limited to gains arising from shares of companies not listed on Bursa (i.e. privately held companies); the tax rate is 10% of gain; for assets acquired prior to Jan 1, the taxpayer may choose to pay tax on any subsequent disposal at the rate of 2% of the disposal value and exemptions apply in respect of internal restructuring, approved IPOs & venture capital companies. Conditions to qualify for these exemptions are yet to be legislated. CGT applies only in respect of gains derived by a company, limited liability partnership (LLP), trust body or cooperative society. Individuals are not subject to CGT. Recognising the impact on individual’s
BIZ & FINANCE BIZ & FINANCE MONDAY | MAR 25, 2024 16 China told it faces ‘fork in the road’ BEIJING: China needs to “reinvent itself” with economic policies to speed resolution of its property market crisis and boost domestic consumption and productivity, International Monetary Fund (IMF) managing director Kristalina Georgieva said yesterday. “China faces a fork in the road – rely on the policies that have worked in the past, or reinvent itself for a new era of high-quality growth,” Georgieva said in remarks to a meeting of senior Chinese government officials and executives from global companies. Chinese officials who spoke at the opening of the China Development Forum expressed confidence that the country would hit its economic targets, including growth of about 5% this year, and pledged further support for companies in strategically important sectors, an area President Xi Jinping has dubbed “new productive forces”. But those commitments appeared to stop far short of the more sweeping changes urged by the IMF. Georgieva said an IMF analysis showed a more consumer-centred policy mix could add US$3.5 trillion (RM16.6 trillion) to China’s economy over the next 15 years. If achieved, that boost would be equivalent to adding output equivalent to more twice the size of South Korea’s economy. To do that China would need to take “decisive” steps to complete unfinished housing stranded by bankrupt developers and to reduce risks from local government debt, the IMF chief said. “A key feature of high quality growth will need to be higher reliance on domestic consumption. “Doing so depends on boosting the spending power of individuals and families.” Other economists have also urged a new growth model for China to address structural imbalances from weak household spending to lower returns on investment. But the IMF remarks were significant in coming at the outset of a two-day meeting where Beijing is looking to shore up foreign investor confidence and push the message that it is open for business. Foreign investment flows into China shrank nearly 20% in the first two months of the year from a year earlier, data released last Friday showed, and officials have been stepping up efforts to attract investors at a time when many companies have been looking to “de-risk” supply chains and operations away from China. In 2023, foreign direct investment into China contracted by 8%, reflecting a shaky economic recovery and tensions with the United States and its allies on a range of issues. Apple CEO Tim Cook, the highest-profile executive at the Beijing event, told China state broadcaster CGTN he had an “outstanding” meeting with Chinese Premier Li Qiang. “I think China is really opening up, and I’m really happy to be here,” Cook told a CGTN interviewer on the sidelines of the meeting. Over 100 overseas executives and investors were attending the China Development Forum and a series of smaller closed-door sessions with Chinese officials on Friday and Saturday. The companies represented include Starbucks, Mercedes-Benz, Aramco, BHP and AMD. China’s Cabinet last week unveiled some new steps intended to win investment, including a promise of expanded market access and pilot programmes to encourage investment in science and technology. On Sunday, Li said China’s previously announced US$140 billion plan to issue ultra-long bonds would create a fund to spur investment and stabilise growth. Other officials highlighted the president’s commitment to drive investment in “new productive forces”, industries that officials have said includes networked electric vehicles, spaceflight and cutting-edge drug development. Finance Minister Lan Foan said officials were “confident and capable” of hitting China’s economic goals this year and vowed more fiscal support for employment without providing details. – Reuters Japan names offshore wind farm winners TOKYO: The Japanese government has chosen a consortium comprising Japan Renewable Energy, Iberdrola Renewables and Tohoku Electric Power as the wind power operator for an offshore block tendered in a second round of auctions. The 375-megawatt (MW) wind farm is located off the coast of Happo-Noshiro in Akita prefecture in northern Japan and is part of Japan’s efforts to grow its offshore wind market to 10 gigawatt (GW) by 2030, and up to 45 GW by 2040. Danish wind turbine maker Vestas will provide turbines for the Happo-Noshiro project that should be launched in June 2029, the government’s statement said. The second major public auctions round aims to build a total of 1.8 GW of capacity across four blocks. “Japan has ambitious targets for offshore wind development, and it is a market Iberdrola has been contributing to for several years now,” said Xabier Viteri, global director of Iberdrola’s renewables business. “This latest development expands our options to deliver new projects in the years ahead.” Iberdrola is the second foreign company to win an offshore wind farm in Japan following the auction. In December, the government announced German renewable energy company RWE was awarded another block, also in partnership with local players, and made public the winners of three other wind farms. Each of the three winning consortia comprised a trading house and either an electricity or a gas utility. RWE, the world’s second-biggest offshore wind company, has said it plans further expansions into Japan’s offshore wind sector after winning its first project, an executive told Reuters in January, and also considers South Korea a promising market. The selection process for the Happo-Noshiro block was delayed due to the overlapping use of a port. – Reuters Beijing blocks use of Intel and AMD chips in govt computers BEIJING: China has introduced guidelines to phase out American microprocessors from Intel and AMD from government personal computers and servers, the Financial Times reported yesterday. The procurement guidance also seeks to sideline Microsoft’s Windows operating system and foreign-made database software in favour of domestic options, the report said. According to the report, Chinese officials have begun following the guidelines, which were unveiled in December. They order government agencies above the township level to include criteria requiring “safe and reliable” processors and operating systems when making purchases, the newspaper said. Intel and AMD did not immediately respond to a request for comment. The US has been aiming to boost domestic semiconductor output and reduce reliance on China and Taiwan with the Biden administration’s 2022 Chips and Science Act. It is designed to bolster US semiconductors and contains financial aid for domestic production with subsidies for production of advanced chips. – Reuters Journalists watching a giant screen showing live-streaming footage of Li delivering a speech at the opening ceremony of the forum yesterday. – REUTERSPIC oCountry needs to ‘reinvent itself’ instead of relying on old policies, says IMF chief
BIZ & FINANCE BIZ & FINANCE MONDAY | MAR 25, 2024 17 Spain judge orders nationwide suspension of Telegram MADRID: A Spanish judge has ordered the online messaging service Telegram suspended in a case brought by broadcasters alleging violation of intellectual property, a ruling criticised by one consumer group. Judge Santiago Pedraz of the Audencia Nacional, a senior court that handles sensitive cases, ordered a “temporary suspension” of Telegram’s resources. The order was issued last Friday but at midday on Saturday the platform was still up and running in Spain. Consumer rights group Facua criticised the ruling as disproportionate, warning it would cause “enormous damage” to millions of users of the platform. “It is as if they shut down the internet because there are websites that illegally host content protected by copyright,” said Facua’s general secretary Ruben Sanchez in a statement. Facua named the media groups involved in the case as Mediaset, Atresmedia, Movistar and Egeda. Telegram is an encrypted messaging platform that also allows users to set up their own channels to broadcast content. The judge issued the order after officials in the Virgin Islands, where Telegram is registered as a business, failed to respond to a July 2023 court request for information. The media companies have complained that their material is being used on Telegram without their consent. The court wanted information that would allow it to identify who was behind the accounts in question. In Friday’s order, the judge said it was the lack of cooperation from the Virgin Islands that had led him to take this “precautionary measure”. The order met the principles of “necessity, appropriateness and proportionality”, he added. “No other measure exists that can stop a repeat of the actions denounced.” Telegram, which claims 700 million monthly active users across the world, stresses the speed and security of its platform. – AFP Fitch upgrades UK credit rating outlook to ‘stable’ WASHINGTON: Fitch upgraded its credit rating for UK government debt from “negative” to “stable” last week, citing easing economic policy risks, while reaffirming the country’s AA- rating. The US ratings agency’s decision will likely be well-received by British Prime Minister Rishi Sunak, whose Conservatives badly trail the main opposition Labour party in polls ahead of local elections in May. Fitch said in a statement that economic policy risks had eased in the United Kingdom since it issued its “negative” outlook in October 2022, during the brief premiership of former Conservative prime minister Liz Truss. The Truss government’s disastrous tax-slashing mini-budget sparked economic and political turmoil and led to her departure from the top job in British politics after just 49 days in office. “We expect general government debt/GDP to be broadly stable from end-2025,” Fitch said, adding it expects the UK’s government deficit to fall from 5.8 percent of GDP last year to 3.7 percent in 2025. Fitch also welcomed the recent fall in UK annual consumer inflation, which has plummeted from a peak of 11.2% in October 2022 to 3.4% in February this year. While this marks significant progress, UK inflation nevertheless remains stuck firmly above the Bank of England’s 2% target. “Inflation had decelerated markedly due to lower energy prices, but core and services inflation remains relatively high, partly reflecting a still tight labour market,” Fitch said. – AFP Global regulators crack down on Big Tech BRUSSELS: Big Tech is facing its biggest challenge in decades as antitrust regulators on both sides of the Atlantic crack down on alleged anti-competitive practices that could result in break-up orders to Apple and Alphabet’s Google, a first for the industry. That in turn could inspire watchdogs around the world to pile on, as evidenced in the growing number of antitrust probes in various countries following the opening of EU and US cases. Since AT&T was broken up exactly 40 years ago, no company has faced the possibility of a regulator-led break-up in the United States until now. Google has said it disagreed with the EU’s accusations while Apple said the US lawsuit is wrong on the facts and the law. In 1984, AT&T, also known as Ma Bell, was broken up into seven independent companies called “Baby Bells” to open up one of the most powerful monopolies of the 20th century. AT&T, Verizon and Lumen are currently the only surviving entities. Regulators now allege companies such as Apple and Google have built impenetrable ecosystems around their products, making it difficult for customers to switch to rival services, which led to the coining of the term walled gardens. The US Department of Justice last Wednesday warned Apple, a US$2.7 trillion (RM12.8 trillion) company, that a break-up order is not excluded as a remedy to restore competition after it teamed up with 15 states to sue the iPhone maker for monopolising the smartphone market, thwarting rivals and inflating prices. Even so, it will likely take years to decide the case, which Apple has vowed to fight. The US actions come on the heels of other mounting threats across Europe this week. Big Tech will face more scrutiny shortly with Apple, Meta Platforms and Alphabet likely to be investigated for potential Digital Markets Act (DMA) violations that could lead to hefty fines and even break-up orders for repeated breaches, people with direct knowledge of the matter told Reuters on the condition of anonymity. EU antitrust chief Margrethe Vestager helped pave the way for drastic measures last year when she accused Google of anti-competitive practices in its money-spinning adtech business and that it may have to divest its sell-side tools. She said that requiring Google to sell some of its assets seemed to be the only way to avoid conflicts of interest as it would prevent Google from allegedly favouring its own online digital advertising technology services versus advertisers and online publishers. Vestager is expected to issue a final decision by the end of the year. European Parliament lawmaker Andreas Schwab, who was heavily involved in drafting landmark EU DMA tech rules that kicked in this month, said lawmakers want bold action against Big Tech which flouts rules. “If they don’t comply with the DMA, you can imagine what Parliament will ask for. Break-ups. “The ultimate goal is to make markets open, fair and allow more innovation.” It is far from certain that regulators will issue break-up order as they mull options and any action may just result in a fine. Legal experts also suggested the case against Apple, drawing from the 1998 case Products on display at an Apple store in the US city of Chicago. – AFPPIC oWatchdogs allege Apple, Google make it difficult for customers to switch to rival services against Microsoft, could be more difficult this time. “In the European Union, there is less of a tradition, with splitting a company seen as a last resort. It has never happened before,” said an European Commission official, speaking on condition of anonymity. Apple’s highly integrated system would also make a break-up difficult compared with Google, said lawyer Damien Geradin at Geradin Partners, who is advising several app developers in other cases against Apple. “It seems to me much more complicated. You are talking about something that is integrated, for example you can’t force Apple to divest its App Store. That doesn’t make sense.” He said it would be better to impose behavioural remedies on Apple that obligates it to do certain things while in the case of Google, a break-up order could simply target acquisitions made to strengthen its key services. “What’s more likely is they (US Department of Justice) go for remedies like opening up hardware functionality, or making sure developers aren’t being discriminated against in terms of pricing,” said Max von Thun, director of advocacy group Open Markets. “I think they want to say that everything’s on the table, but it doesn’t necessarily mean they’ll choose that path.” Apple gets most of its nearly US$400 billion-a-year revenue from selling hardware – iPhones, Macs, iPads and Watches – followed by its Services business, which will brings in roughly US$100 billion a year. Structural remedies such as break-ups will ultimately be tested in courts, said Assimakis Komninos, partner at law firm White & Case. “I would say that experiences of imposed structural measures, such as breakups, are not many, but the small past experience shows that this is very tricky, aside from the formidable legal challenges.” – Reuters
BIZ & FINANCE BIZ & FINANCE MONDAY | MAR 25, 2024 18 /thesundaily FOLLOW ON FACEBOOK Malaysian Paper SAN SALVADOR: In a surf town in El Salvador nicknamed “Bitcoin Beach”, shopkeeper Maria Aguirre watched with delight as the cryptocurrency – and her investment in it – recently soared to new all-time highs. The digital currency that she acquired four years ago for US$2,200 (RM10,417) is now worth around US$19,000, she said. The price increase “has been great and I’m very happy”, the 53-year-old told AFP in El Zonte, where tourists relax on the beach and surfers ride waves. The cryptocurrency has been legal tender since 2021 in the Central American nation, and a sign in Aguirre’s store selling food and soft drinks tells customers: “Bitcoin accepted.” She said bitcoin’s rise had brought her more “economic stability”, and her investment gains enabled her to buy a washing machine, a stove and a refrigerator. Aguirre’s store is surrounded by other small businesses that also accept bitcoin, as well as the US dollar, which replaced the national currency – the colon – in 2001. Located 58km southwest of the capital San Salvador, El Zonte gained its nickname due to its widespread early use of the cryptocurrency for payments. “Bitcoin Beach” is also the name of an application used in the area to make transactions. In 2021, El Salvador became the world’s first country to establish bitcoin as legal tender, at the initiative of President Nayib Bukele, who has hailed the cryptocurrency’s recent strong performance. Bitcoin hit an all-time high above US$73,000 earlier this month, helped by US authorities’ decision to allow greater trading accessibility, though it has since given back some of its gains. The same day, Bukele announced that his country had stored more than US$400 million in the digital asset in an offline “cold wallet”, which he described as “our first bitcoin piggy bank”. Bukele made bitcoin an official currency in an attempt to revitalise a dollarised economy dependent on remittances from abroad, despite warnings from the International Monetary Fund and the World Bank about its extreme volatility. But not everyone in El Salvador is convinced by the cryptocurrency. According to a survey by Central American University, 88% of Salvadorans said that they did not use bitcoin last year. “What’s clear is that people continue to use more traditional methods of sending (funds) and that has a lot to do with people’s distrust of the volatility of the cryptocurrency,” independent economist Cesar Villalona told AFP. When Bukele introduced bitcoin, he also wanted remittances from families abroad – a key pillar of the Salvadoran economy – to be channelled through digital wallets to reduce transfer costs, but that did not happen. Last year, only 1% of the more than US$8 billion in remittances arrived through digital wallets, according to the central bank. On the side of a road in El Zonte, Blanca Castillo runs a store selling artificial flowers and natural juices. She is also delighted with bitcoin and the financial gains it has brought her. However, the 25-year-old is also wary of the cryptocurrency’s wild swings. “When you see that the value is going to fall, you feel that you’re going to suffer losses ... you have to be alert to its movements,” Castillo said. At the end of 2022, bitcoin was trading under US$17,000 – far below a previous record high. Sitting on a chair in her small restaurant, owner Rosalina Franco said she serves many customers who pay with bitcoin, mostly foreign tourists. The 70-year-old said she struggled with carrying out cryptocurrency transactions by phone, so “I save what I charge in bitcoin”. “I don’t spend it.” – AFP ‘Bitcoin Beach’ cheers crypto surge oEl Salvador is first country to adopt digital currency as legal tender US regulator to scrutinise United Airlines safety practices WASHINGTON: The American aviation authority will scrutinise safety procedures at United Airlines after a spate of incidents on its Boeing-made planes, according to a letter sent to company employees. Boeing has been hit by a series of safety issues, including an incident in January when a fuselage panel on a Boeing 737 MAX 9 Alaska Airlines jet blew off mid-flight. United Airlines – which owns the largest fleet of 737 MAX 9s, with 79 of the aircraft – has since reported poorly screwed bolts on cap doors and other parts of some of those planes. The US Federal Aviation Administration (FAA) is now set to take a closer look at the airline’s safety procedures, United’s vice-president of corporate safety said in a letter to employees seen by AFP. “Over the next several weeks, we will begin to see more of an FAA presence in our operation as they begin to review some of our work processes, manuals and facilities,” Sasha Johnson wrote in the memo. “The number of safety-related events in recent weeks have rightfully caused us to pause and evaluate whether there is anything we can and should do differently.” She said United needed to take an “even closer look at multiple areas of our operation to ensure we are doing all we can to promote and drive safety compliance”. According to the Wall Street Journal, which first reported the news, “last year there were a number of close calls between planes on runways, and the industry is absorbing a massive influx of new employees hired”. “United Airlines, which last year became the largest American airline by traffic, has drawn attention following a range of problems on flights,” the business newspaper added. In late February, United Airlines pilots reported that the rudder pedals of the 737 MAX they were flying were stuck after landing in Newark, New Jersey. – AFP Ghana’s economy feels pinch from low cocoa output ACCRA: Ghana’s economy has started to feel the pinch from its falling cocoa production, central bank data showed, with low exports reducing the trade surplus by more than half for the first two months of the year, threatening the cedi currency. The world’s number two cocoa-producing country expects output to be almost 40% below target in the 2023/24 season due to a combination of strong winds, scant rain, smuggling and disease. Growth in the cocoa sub-sector contracted 1.1% in the last quarter of 2023, according to the national statistical body. A summary of economic and financial data released by the Bank of Ghana last Friday showed that cocoa export receipts fell by almost a third to US$508.4 billion in February. The West African nation’s trade surplus then fell by 54.5%, from US$862.5 million to US$392.8 million between February 2023 and February this year. The cedi currency has lost more than 8% against the dollar since the start of the year. Ghana’s cocoa marketing board did not respond to a request for comment. The central bank data showed that the nation’s primary balance ended 2023 at a surplus 0.4%. Since cocoa production peaked in 2020/21 season, output has been declining and now estimated to fall to 580,000 tons this season, according to the cocoa marketing board. In 2022/23 season, the board said 150,000 tons of cocoa was lost to smuggling and illegal gold mining known locally as galamsey. It expects even greater losses this season as rising global cocoa prices incentivise smuggling. The regulator said cocoa swollen shoot virus, which causes yields to drop and kills cocoa trees, had wiped off about 500,000 hectares of farmlands. The challenges in the cocoa sector come as Ghana charts its way out of its worst economic crisis in a generation. After defaulting on much of its overseas debt in 2022, the government last year secured a US$3 billion loan programme with the International Monetary Fund, and in January reached a deal to restructure US$5.4 billion of loans with its official creditors. It is now pushing for a deal with holders of about US$13 billion in international bonds. – Reuters Aguirre’s house, where she runs a small business that accepts bitcoin payments, is seen in El Zonte beach. – AFPPIC
BIZ & FINANCE BIZ & FINANCE MONDAY | MAR 25, 2024 19 Participation 22.4 41.6 36.0 100.0 Institutions Retail Foreign Bought RM m 600.7 1041.6 1045.5 2687.8 Sold RM m 605.9 1193.4 888.5 2687.8 Net RM m -5.2 -151.8 157.0 0 % Preliminary stats (excluding trade amendments). For final data, please refer to www.bursamalaysia.com Source: Bursa Malaysia A Participating Organisation of Bursa Malaysia Securities Berhad A Trading Participant of Bursa Malaysia Derivatives Berhad S E C U R I T I E S S D N. B H D. 197201001092 (12738-U) 22/3/2024 1,542.39pts March 22, 2024 STOCKS CLOSING (RM) +/- (RM) VOLUME (’00) HSI-CVK 0.66 -0.17 30 HSI-CVC 0.525 -0.13 4,261 A50CHIN-CF 0.105 -0.125 250 HSI-CVR 0.68 -0.11 6,561 HSI-CVV 0.53 -0.1 5,130 NESTLE 117.9 -0.1 974 SAM 5.02 -0.1 5,092 HIBISCS-C60 0.055 -0.095 12,000 PWROOT-CD 0.055 -0.095 8,300 HSI-CVH 0.385 -0.09 229,577 LEESK 0.925 -0.09 26,042 CHINAETF-MYR 4.32 -0.09 62 UNISEM 3.56 -0.09 6,888 HSI-CVG 0.34 -0.085 14,516 CARLSBG 18.54 -0.08 3,510 CYPARK-CD 0.07 -0.08 2,000 GENP-CM 0.07 -0.08 300 HSI-CVM 0.275 -0.08 17,550 PCHEM 6.79 -0.08 46,805 TAANN 3.95 -0.08 4,938 STOCKS CLOSING (RM) +/-(RM) +/-(%) VOLUME BORNOIL 0.005 - - 7,568,038 TWL 0.025 -0.01 -28.57 4,459,189 ALPHA 0.32 - - 2,717,052 HSI-CVB 0.155 -0.065 -29.55 1,252,042 HSI-HUE 0.225 +0.035 +18.42 953,563 HSI-CTK 0.085 -0.04 -32.00 771,528 FITTERS 0.055 - - 735,598 SPSETIA 1.33 +0.070 +5.56 710,348 HSI-CTP 0.075 -0.05 -40.00 691,839 PMHLDG 0.205 +0.015 +7.89 682,131 SCABLE 0.195 +0.035 +21.88 491,646 MINETEC 0.155 -0.005 -3.13 437,723 SIMEPROP 0.885 +0.035 +4.12 402,052 EMCC 0.515 +0.005 +0.98 355,777 VELESTO-WA 0.01 - - 306,412 EKOVEST 0.48 -0.005 -1.03 304,071 MYEG 0.8 -0.005 -0.62 302,498 MRCB 0.635 +0.015 +2.42 291,098 ARMADA 0.575 - - 283,158 TAWIN 0.035 - - 273,586 SUNBIZ presents a summary of the day’s trading activity on Bursa Malaysia and other markets in an easy to digest format. MARKET ROUND-UP: MARCH 22 [ Sources: Bursa Malaysia, Bernama, shareinvestor.com and websites DISCLAIMER: The data and reports are provided as a service to investors. Sun Media Corporation Sdn Bhd shall not be liable or responsible for any consequences resulting from usage of the information. INDEX CHANGE FBMEMAS 11,555.10 +18.60 FBMKLCI 1,542.39 +0.98 CONSUMER PRODUCTS 572.75 +0.13 INDUSTRIAL PRODUCTS 178.73 -0.29 CONSTRUCTION 219.41 +0.74 FINANCIAL SERVICES 17,188.80 +45.20 ENERGY 934.34 -0.27 TELECOMMUNICATIONS 598.56 +0.27 HEALTH CARE 1,943.18 -0.59 TRANSPORTATION 971.21 +0.96 PROPERTY 991.87 +12.23 PLANTATION 7,336.67 -16.00 FBMSHA 11,651.90 +19.68 FBMACE 4,856.34 +21.01 TECHNOLOGY 64.66 +0.42 TURNOVER: 5.090 bil VALUE: RM2.687 bil Top 20 Actives Top 20 Losers (By RM) Bursa Indices INDEX CLOSING DAILY DAILY CHANGE CHANGE (%) DJIA (US) 39,475.90 -305.47 -0.77 S&P 500 (US) 5,234.18 -7.35 -0.14 NASDAQ (US) 16,428.82 26.98 0.16 NYSE (US) 18,112.04 -102.08 -0.56 EURO STOXX 50 (EUR) 5,031.15 -21.16 -0.42 FTSE 100 (UK) 7,930.92 48.37 0.61 DAX (GER) 18,205.94 26.69 0.15 NIKKEI 225 (JPN) 40,888.43 72.77 0.18 TOPIX (JPN) 2,813.22 17.01 0.61 HANG SENG INDEX (HK) 16,499.47 -363.63 -2.16 CSI 300 (CHN) 3,545.00 -36.09 -1.01 MSCI ASIA PACIFIC 178.12 3.2 1.83 SH SE COM (CHN) 3,048.03 -29.08 -0.94 KOSPI INDEX (SK) 2,748.56 -6.3 -0.23 SENSEX INDEX (IND) 72,831.94 190.75 0.26 ASX 200 (AUS) 7,770.55 -11.41 -0.15 ALL ORDINARIES INDX (AUS) 8,026.33 -18.23 -0.23 FBM KLCI 1,542.39 0.98 0.06 STRAITS TIMES INDEX (S’PORE) 3,217.97 -2.4 -0.07 WTI (US$/BBL.) 80.63 -0.44 -0.54 BRENT (US$/BBL.) 85.43 -0.35 -0.41 GOLD (COMEX) (US$/T OZ) 2,181.60 -24.9 -1.13 SILVER (COMEX) (US$/T OZ) 24.84 -0.16 -0.66 PLATINUM (US$/T OZ) 898.35 -9.91 -1.09 COPPER (COMEX) (US CENTS/LB.) 400.75 -5.1 -1.26 COPPER 3MO (LME) (US$/MT) 8,866.50 -84 -0.94 CORN (US CENTS/BU.) 439.25 -1.5 -0.34 WHEAT (US CENTS/BU.) 554.75 8 1.46 SOYBEAN OIL (CBOT) (US CENTS/LB.) 47.64 -1.15 -2.36 COCOA (ICE) (US$/MT) 8,939.00 380 4.44 RUBBER (S’PORE) (US CENTS/KG) 166.4 -3.8 -2.23 World Stocks/Commodities as at 5pm, March 22 STOCKS CLOSING (RM) +/- (RM) VOLUME (’00) HSI-CT7 0.01 -71.43 2,176 CLASSITA-WB 0.005 -66.67 13,439 HSI-CTQ 0.005 -66.67 236,441 JDCOM-C20 0.005 -66.67 200 HIBISCS-C60 0.055 -63.33 12,000 PWROOT-CD 0.055 -63.33 8,300 A50CHIN-CF 0.105 -54.35 250 CYPARK-CD 0.07 -53.33 2,000 GENP-CM 0.07 -53.33 300 EKOVEST-C42 0.005 -50.00 12,100 FBMKLCI-HMN 0.005 -50.00 10 FITTERS-WC 0.005 -50.00 89,435 HSI-CTC 0.005 -50.00 3,173 HSI-CTV 0.01 -50.00 6,000 PERMAJU-WA 0.005 -50.00 3,050 TOPGLOV-C3W 0.03 -50.00 2,000 TWL-WD 0.005 -50.00 3,000 YINSON-C33 0.005 -50.00 10,079 LIAUTO-C1 0.03 -45.45 500 YINSON-C35 0.085 -43.33 1,230 Top 20 Losers (By %) STOCKS CLOSING (RM) +/- (RM) VOLUME (’00) ALLIANZ-PA 21.56 +0.560 50 UTDPLT 24.7 +0.220 2,310 SPSETIA-C64 0.395 +0.200 2,001 AJI 18.7 +0.180 144 SUNCON 2.91 +0.180 260,010 HLFG 16.62 +0.160 1,658 GENP 6.22 +0.120 5,554 HEIM 23 +0.120 3,550 HLBANK 19.44 +0.120 5,785 SHL 2.27 +0.120 165 CYPARK 0.925 +0.115 211,633 SPSETIA-C77 0.505 +0.115 500 GCB 2.33 +0.110 119,308 HSI-HS4 0.705 +0.105 405 SPSETIA-C69 0.135 +0.105 1,091 CRESNDO 2.78 +0.100 4,654 F&N 29.3 +0.100 1,537 KLK 22.4 +0.100 10,511 MSNIAGA 1.55 +0.100 206 REXIT 1.32 +0.100 28,109 Top 20 Gainers (By RM) STOCKS CLOSING (RM) +/- (RM) VOLUME (’00) SPSETIA-C69 0.135 +350.00 1,091 SPSETIA-C64 0.395 +102.56 2,001 BSLCORP-WA 0.01 +100.00 7,168 EDUSPEC-WB 0.01 +100.00 4,955 IOICORP-C54 0.01 +100.00 11,000 PASUKGB-WA 0.01 +100.00 6,602 GCB-C4 0.045 +80.00 94,136 HSI-HSI 0.175 +66.67 3,000 HSI-HSV 0.025 +66.67 1,550 CYPARK-CB 0.04 +60.00 10,736 CEB-CB 0.015 +50.00 7,300 COMPUGT 0.015 +50.00 10,583 EKOVEST-C44 0.015 +50.00 34,286 MAYU-WC 0.09 +50.00 2 TWL-WE 0.015 +50.00 6,702 XOX 0.015 +50.00 6,823 SPSETIA-C68 0.33 +43.48 401 SPSETIA-C75 0.205 +41.38 6,080 HSI-HSP 0.035 +40.00 30,957 SPSETIA-C74 0.07 +40.00 60,844 Top 20 Gainers (By %) Bursa recoups losses to end previous week slightly higher BURSA Malaysia managed to recover from earlier losses to end last week marginally higher on late buying, despite the mostly downbeat performance in regional markets, said an analyst. At 5pm, the FBM KLCI inched up by 0.98 of-a-point to 1,542.39 from Thursday’s close of 1,541.41. The benchmark index, which opened 0.15 of-a-point better at 1,541.56, moved in a narrow range between 1,537.92 and 1,543.84 throughout the day. On the broader market, losers beat gainers 538 to 544, while 475 counters were unchanged, 778 untraded, and 18 others suspended. Turnover increased to 5.08 billion units worth RM2.69 billion from 4.02 billion units worth RM2.94 billion on Thursday. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the FBM KLCI moved within a tight range on Friday as investors pivoted towards smaller-cap stocks, particularly those within the property, construction, and technology sectors. “The benchmark index, however, managed to finish in the green due to late buying,“ he told Bernama. In Hong Kong, the Hang Seng Index tumbled 2.16% to 16,499.47, South Korea’s Kospi slipped 0.23% to 2,748.56, Singapore’s Straits Times Index eased 0.07% to 3,217.97, and China’s SSE Composite Index slid 0.95% to 3,048.03. However, Japan’s Nikkei 225 rose 0.18% to 40,888.43. Among the heavyweights, Maybank added four sen to RM9.59, Public Bank and Tenaga Nasional gained two sen each to RM4.24 and RM11.56, respectively, while Petronas Chemicals shed eight sen to RM6.79 and CIMB was flat at RM6.55. As for the actives, Borneo Oil, Alpha IVF and Fitters Diversified were flat at half-a-sen, 32 sen and 5.5 sen, respectively.
BIZ & FINANCE BIZ & FINANCE MONDAY | MAR 25, 2024 20 @thesundaily FOLLOW ON Malaysian Paper INSTAGRAM MARKETS/FROM THE BROKERS SUNBIZ presents extracts of a selection of commentaries and research reports received from stockbrokers on counters that could be of interest to investors. [Compiled by SunBiz Team DISCLAIMER: The information is extracted from stockbrokers’ commentaries and research reports and do not represent the views or opinions of Sun Media Corporation Sdn Bhd. It is not a solicitation, recommendation or an offer to buy or sell the equities featured. Sun Media Corporation shall not be liable or responsible for any consequences resulting from usage of the information. EXCLUDING RM1.2 million disposal gain of properties, ECW’s Q1’24 core net profit of RM68.4 million was 24% of MIBG/consensus’ FY24E earnings. The -26% QoQ decline in Q1’24 core net profit was due to land sale (92 acres) to Haitian group in Eco Business Park II in Q4’23. YoY, core net profit grew by +21% on better operating margin and better earnings performance from Eco World International (ECWI MK; HOLD; CP: RM0.375; TP: RM0.29), which returned to profitability in Q1’24. ECW has secured RM1.26b in property sales in 4M FY24, which is 36%/34% of ECW/MIBG’s RM3.5/3.7 billion sales target/assumption for FY24 – in line. Of the RM1.26 billion sales, 45% came from landed residential properties, 24% from industrial properties, 18% from high-rise residential and 13% from commercial lots. Contribution from the high-rise residential and industrial segments are expected to improve as ECW will launch Se.Duduk D’Kajang and Eco Business Park VI in 2H FY24. The latter is already 30%-reserved. We revise FY24/25/26E earnings by +0.1%/+0.3%/+0.3% after factoring in dividend distribution of RM136 million between FY24- 25 from ECWI and our adjustments to ECWI loss projections. Meanwhile, ECW is actively seeking new landbank opportunities. As at end-Jan 2024, net gearing was 0.28x (0.25x end-4QFY23) post the completion of its Kulai industrial land acquisition. Unbilled sales were RM3.8 billion as at end-Jan 2024 or 1.3x of our FY24E revenue. We maintain BUY on ECW but raise TP to RM1.83 (+43sen) on a higher 1.1x FY24E PBV peg vs. 0.8x. 4QFY24 core net profit of RM35 million brought FY24 core net profit to RM176 million or only 68% of our FY estimate. The shortfall was largely due to FY24 TV subscription revenue coming in at RM2.69 billion or RM60 million below our expectations. Due to its relatively fixed expenses, a minor revenue miss can lead to a major core net profit miss. Although 4’24 was profitable, no DPS was declared again. The first and only interim DPS of 0.25sen for FY24 translates into 31% DPR (MIBG forecast: 50%). In hindsight, the dearth of dividends ought not to have come as a total surprise to us. Although ASTRO has introduced new packages priced at lower entry points and is still ramping up antipiracy efforts, ASTRO stated that its outlook remains uncertain due to the still poor consumer sentiment driven by high inflation and persistent content piracy. Adjusting for the FIFA World Cup subscription revenue in Q4’23, Q4’24 TV subscription revenue eased 3% QoQ or the fastest pace in two years. Reflecting the poorer-than-expected TV subscription revenue, we lower FY25E/FY26E TV subscription revenue forecasts by 3%/2%. Coupled with minor housekeeping, we slash FY25E/FY26E earnings by 46%/29%. We also introduce FY27E earnings which we expect to ease 7% YoY on TV subscription revenue easing another 3% YoY. In our view, FY25E will be difficult not just because of falling TV subscription revenue but also high UEFA Euro Cup and Summer Olympics content cost. That said, ASTRO is a lot more resilient than the adex-based media groups due to its stable subscriber base. Upgrade to HOLD with a lower TP of RM0.29. SPSB is in the advance stage of negotiation for the sale of its 960- acre land in Johor and could seal the deal as soon as in Q2’24. The selling price is likely to exceed the earlier proposed purchase price of RM13psf by Scientex, given rising demand for Johor properties. This could result in a net land sale gain of >RM320 million. Additionally, SPSB is in advance negotiation with potential JV partners for a 16-acre commercial land in Setia Alam and its 307-acre industrial land in Tanjung Kupang; this could also result in realisation of land sale proceeds (depending on JV structure). SPSB is looking to de-gear and unlock the potential of its investment properties through a REIT. It can continue owning these assets by taking a stake in the REIT and would enjoy dividend income. The REIT can also serve as a vehicle for future injection of SPSB’s mature assets, enabling capital recycling. The assets going into the REIT could comprise a retail mall, hotels, schools, as well as a convention centre. Our scenario analysis on the impact of potential land sale in Johor under different selling price assumptions result in a net land sale gain of RM352-479 million. We raise our FY24/25/26 earnings forecasts by 55.4%/19.2%/1.4% to factor in the Johor land sale assuming RM14psf selling price. We continue to like SPSB for its undemanding valuation. Catalysts include: i) land sale (in FY24), ii) REIT-ing of SPSB’s investment properties (FY25-26) and iii) potential upward revision in BPS mall pricing (FY27). We raise our TP to RM1.66 (+38sen) on a higher 0.5x FY24E PBV peg (previously 0.4x) on improving earnings and balance sheet outlook. BUY. FOREIGN CURRENCY SELLING TT/OD BUYING TT BUYING OD 1 US Dollar 4.7950 4.6610 4.6510 1 Australian Dollar 3.1730 3.0470 3.0310 1 Brunei Dollar 3.5720 3.4680 3.4600 1 Canadian Dollar 3.5450 3.4510 3.4390 1 Euro 5.2220 5.0540 5.0340 1 New Zealand Dollar 2.9150 2.8080 2.7920 1 Singapore Dollar 3.5720 3.4680 3.4600 1 Sterling Pound 6.0880 5.8980 5.8780 1 Swiss Franc 5.3330 5.2100 5.1950 100 UAE Dirham 132.2000 125.3700 125.1700 100 Bangladesh Taka 4.4550 4.1650 3.9650 100 Chinese Renminbi 67.1000 64.2900 N/A 100 Danish Krone 71.7700 66.0600 65.8600 100 Hongkong Dollar 62.0100 58.9400 58.7400 100 Indian Rupee 5.8600 5.5000 5.3000 100 Indonesian Rupiah 0.0317 0.0287 0.0237 100 Japanese Yen 3.1730 3.0720 3.0620 100 New Taiwan Dollar N/A N/A N/A 100 Norwegian Krone 46.2100 42.5100 42.3100 100 Pakistan Rupee 1.7500 1.6400 1.4400 100 Philippine Peso 8.6900 8.1900 7.9900 100 Qatar Riyal 133.0500 126.3100 126.1100 100 Saudi Riyal 129.3900 122.8300 122.6300 100 South Africa Rand 26.4400 23.8800 23.6800 100 Sri Lanka Rupee 1.6200 1.4900 1.2900 100 Swedish Krona 47.3300 43.1100 42.9100 100 Thai Baht 13.8200 12.2600 11.8600 Exchange Rates Source: Malayan Banking Bhd/Bernama Ringgit ends lower against dollar on mild profit-taking THE ringgit depreciated against the US dollar at the close last Friday on mild profit-taking following recent gains, said an analyst. At 6pm, the ringgit fell to 4.7340/7390 against the greenback from Thursday’s close of 4.7140/7170. Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said the weaker ringgit was attributed to the People’s Bank of China’s lower daily fixing of the yuan, among other factors. “The recent policy rate cut by the Swiss National Bank by 25 basis points to 1.5% to combat inflation also resulted in the greenback gaining further strength as the US Federal Reserve (Fed) is not about to cut the rate in the immediate terms. “In a grand scheme of things, the US dollar stands out,” he told Bernama. At the close, the ringgit was traded mostly higher against a basket of major currencies. It appreciated against the euro to 5.1203/1257 from 5.1444/1477 yesterday and also against the British pound to 5.9582/9645 from 6.0202/0241 at Thursday’s close. However, it depreciated vis-a-vis the Japanese yen to 3.1223/1258 from 3.1200/1222 on Thursday. Meanwhile, the ringgit traded higher against other Asean currencies, except for the Philippine peso which was flat at 8.41/8.42. It was firmer versus the Thai baht at 13.0116/0318 compared with 13.0712/0850 on Thursday, appreciated vis-a-vis the Indonesian rupiah to 299.8/300.4 from 300.8/301.1 and appreciated against the Singapore dollar to 3.5106/5145 from 3.5205/5230 previously. Teladan, Melaka Corp to build German tech park in Malacca KUALA LUMPUR: Malacca-based property developer Teladan Group Bhd through its wholly owned subsidiary Riverwell Resources Sdn Bhd has signed a memorandum of understanding (MoU) with Melaka Corporation (MCorp), a Malacca state government development agency, to develop a 341.2-acre German technology park at Ayer Panas, Jasin District, Malacca. The project aims to attract German investment into Malacca and strengthen Malaysia-Germany economic ties. It encompasses various industrial developments including industrial bungalow lots, semidetached factories, shop offices, and centralised labour quarters. Under the MoU, both parties will collaborate on feasibility studies and development planning of the project. The agreement seeks to leverage on the construction expertise of Teladan and its landbank located along Jalan Gapam. At the same time, Mcorp will lead the development and sales of the project. This project builds on the robust trade relations between Malaysia and Germany, which have flourished significantly over the past decade. Germany has remained Malaysia’s top trading partner in the European Union, while Malaysia is now Germany’s largest trading partner in Southeast Asia. Malacca chief minister Datuk Seri Utama Ab Rauf Yusof said the project aligns with the government’s economic growth initiatives by promoting industrial advancement and attracting high-tech industries to Malacca. Meanwhile, Teladan managing director Richard Teo Lay Ban said that with a proven track record of developing over RM2.9 billion in combined gross development value (GDV) across residential, commercial, and industrial projects, they are confident in their contribution to this project’s success. S P Setia Bhd Buy. Target price: RM1.66 Astro Malaysia Holdings Bhd Hold. Target price: RM0.29 Eco World Development Group Bhd Buy. Target price: RM1.83 Source: Maybank Investment Bank Source: Maybank Investment Bank March 22, 2024: RM0.295 Source: Maybank Investment Bank March 22, 2024: RM1.55 March 22, 2024: RM1.33
Gachagames The best wallet-friendly he best wallet-friendly offerings - P22 fferings - P22 WEEKLY FOCUS MONDAY Discover cuttingedge world of Gaming and Tech TUESDAY Ultimate guide to Travel and Leisure WEDNESDAY Latest in Fashion and Beauty sense THURSDAY Inside the world of Social Media Influencers FRIDAY Culinary delights and Beverage trends MONDAY | MAR 25, 2024 Editorial T: 03-7784 6688 F: 03-7785 2625 E: lifestyle@thesundaily.com Advertising T: 03-7784 8888 E: advertise@thesundaily.com SCAN ME INSIDE p 23 Lenovo Tab P12 launched p 24 Persona 3 Reload coming soon p 25 Queen of Tears: Epic K-drama p 26 Casino denies talks of Mars debt - SQUARE ENIXPIC
LYFE LYFE MONDAY | MAR 25, 2024 22 To gamble or not to gamble I N the past couple of decades, mobile games have grown extremely popular, far outpacing even console games. For instance, companies like Konami, who previously made games for consoles and PC, transitioned towards mobile gaming in the mid-2010s due to its profitability. Arguably the biggest, most popular format when it comes to developing mobile games is the gacha mechanic, which is part of the word gashapon that originates from Japan. Remember those vending machines that were extremely popular from the 70s to late 90s, where after you put a certain amount of coins into the machine’s slot, and turned a knob, it would pop out a capsule with a toy inside? Essentially gambling due to the random nature of what would be inside the capsule, the gacha mechanic of vending machines was adapted heavily into mobile games. Players would spend their real world money to buy in-game currency. Then, they would use that currency to gacha or “pull from a machine”, and depending on their luck, they would either get something of high value or absolute trash. Due to the nature of gambling and the dopamine hit in a gambler’s brain when they get lucky, mobile games structured around the gacha mechanic are huge moneymakers, particularly in countries like China and Japan, where players are known to splurge hefty amounts of real hard cash for advantages in these particular games. As the popularity of these games boomed, game publishers pushed out mobile games that heavily leaned into getting players to gamble. Not long after, other publishers moved away from centralising gacha in their game design, so that players could play for free and spend money if they wanted to. Here is theSun’s top five picks of the best gacha-light games. Dragon Ball Legends In Dragon Ball Legends, players can put together their dream team to fight other Dragon Ball characters, as the story is from the point of view of Shallot, a brand new character first introduced in this game. The gameplay is a mixture of real time fighting and card deck gameplay, where character actions in battle are dictated by the types of cards that are drawn from the deck. Honkai: Star Rail Released last year, MiHoYo’s Honkai: Star Rail is the company’s latest anime-styled gacha roleplaying game (RPG) and it is a classic turn-based RPG. As Star Rail’s lead character, players join a large cosmic train that travels the universe along the “star rail”, while helping others along the way. The summary may seem simple, but the actual writing and story progression in Star Rail is unexpectedly deep. The game is also known for being relatively light on the gacha component, as players can progress through Star Rail without spending real world money, as various Dragon Ball Legends allows fans of the franchise to enjoy fights in the palm of their hands. - BANDAI NAMCO ENTERTAINMENTPIC oBest mobile games that do not force players to spend █ BY MARK MATHEN VICTOR An extremely polished game, Honkai: Star Rail retains the genres classic turn-based battles. - MIHOYOPIC activities in the game will reward players with the currency needed to “pull” new characters. Genshin Impact Also developed by MiHoYo, Genshin Impact sits on the other side of the same coin as Star Rail. In the game, players assume the role of “the traveller” and their fairy companion, as the duo journey across seven continents. What separates this game from its successor Star Rail, is how Genshin Impact is an action RPG game set in a fully open world. The combat system is very fluid and responsive, and there is also a multiplayer component with co-op support for up to four real world players. Another Eden: The Cat Beyond Time and Space Though console games have shied away from turn-based role-playing games, mobile games are leveraging off the genre, and like Star Rail, Another Eden is a hit gacha game due to that feature. The game follows the story of Aldo, who has to save his abducted sister Feinne. To spice things up, developer WFS incorporated new mechanics in the game, such as Switch, which allows players to trade active and reserve characters during battle. For its gacha, players will enjoy how they do not need to spend real money to pull characters, as the game has many ways to collect the “chronos stones” in-game currency. Octopath Traveler: Champions of the Continent (COTC) COTC is the prequel to the first Octopath Traveler game on the Nintendo Switch, and like it, does not have a primary main character. Set on the continent of Orsterra, the game’s story is epic in scale and perpetually evolves as Square Enix gradually releases more content. For the first arc in COTC, new players will collect three magical rings held by a wealthy drug heiress, a warmonger and an insidious playwright-cum-actor, which will culminate with players attempting to stop a mad king after he kills his own daughter. The gameplay in COTC is similar to Another Eden’s classic turnbased battles, but more complex and requires thorough understanding of various gameplay mechanics. Like the other gacha games listed above, COTC uses an in-game currency in the form of rubies, which can be bought with real money, or progressively and generously saved from logging in daily, completing activities and story objectives. The game also has several events – usually for festive periods such as Chinese New Year – and there are even crossover events, where players can try to pull characters from other franchises. At the time of writing, there is an ongoing crossover event with characters from Bravely Default, a 2012 game. Genshin Impact retains miHoYo’s anime style and is more action-packed. - MIHOYOPIC Another Eden is one of those gacha games that is ironically far removed from gambling. - WFSPIC Octopath Traveler: COTC blends classic turn-based battles with modern mechanics and graphics. - SQUARE ENIXPIC
LYFE LYFE MONDAY | MAR 25, 2024 23 protection. With its ultra-slim profile and minimalistic design, the Tab P12 exudes sophistication while offering exceptional durability to withstand the hardships of daily use. Enhanced productivity Featuring Wi-Fi 6 and Bluetooth 5.1 connectivity, the Tab P12 ensures smooth integration with your favourite devices and networks. Whether you are working remotely, attending virtual meetings, or streaming content, the Tab P12 keeps you connected and productive wherever you go. Powered by Android 13 Running on the latest Android 13 operating system, the Tab P12 offers a smooth and intuitive user experience, coupled with enhanced security features and access to a vast THE Lenovo Tab P12 emerges as a formidable contender in the tablet arena, blending cutting-edge performance with sleek design and versatile connectivity. With its stunning 3K display, and a plethora of innovative features, the Tab P12 promises to revolutionise your digital experience and this review explains it all. Unleashing the power within Equipped with the MediaTek Dimensity 7050 processor and 8GB of LPDDR4x memory, the Tab delivers blazing-fast performance for multitasking and smooth navigation. Whether you are streaming HD content, gaming or tackling productivity tasks, the Tab P12 effortlessly handles every challenge with finesse. Immersive visuals Featuring an integrated Arm MaliG68 graphics chipset and 128GB of UFS 2.2 storage, the Tab P12 ensures stunning visuals and ample space for your apps, media, and files. Dive into immersive gaming sessions or bingewatch your favourite shows without worrying about storage constraints. Elegance meets durability Crafted with precision and elegance, the Tab P12 boasts a sleek metal case and a mesmerising 12.7” 3K display with Corning Gorilla Glass 3 Featuring Wi-Fi 6 and Bluetooth 5.1 connectivity, the Tab P12 ensures smooth integration with favourite devices and networks. - PIC COURTESY OF LENOVO oA powerhouse tablet for work and play █ BYYASMIN ZULRAEZ Discover the Lenovo Tab P12 ecosystem of apps and services. Stay up-to-date with the latest innovations and enjoy an ideal Android experience with the Tab P12. Secured data With a touch-style fingerprint reader integrated into the power button, the Tab P12 ensures secure access to your device and sensitive data, safeguarding your privacy and peace of mind. Experience hassle-free authentication and enjoy peace of mind knowing that your personal information is protected. This Tab stands out as a true powerhouse tablet, combining stellar performance, elegant design, and ideal connectivity to elevate your digital experience to new heights. Whether you are a professional seeking productivity tools or an entertainment enthusiast craving immersive media experiences, the Tab P12 delivers on all fronts, making it a must-have device for tech aficionados everywhere. Experience the future of mobile computing with this Lenovo speciality. Cancelled Spider-Man game trailer surfaces LAST December, Insomniac Games was hit by a ransomware attack, which led to a massive data breach that leaked 1.7 terabytes of data and over one million files onto the internet. The leak contained early footage of Insomniac’s ind e v e l o p m e n t Wolverine game, the studio’s roadmap for the next decade, other sensitive information about games the studio was working on and private employee information of the PlayStation-owned developer of the Marvel’s Spider-Man games. On March 13, a new trailer surfaced as part of that data breach, for a game by Insomniac called Spider-Man: The Great Web, previously reported to have been cancelled. The trailer showed that The Great Web would have been a spin-off from the existing Marvel’s Spider-Man games. An online game, the trailer revealed that players would control different versions of Spider-Man in New York and other universes. The Great Web’s leaked trailer has Yuri Lowenthal voicing Peter Parker calling for players to join forces to fight the supervillain group Sinister Six. The footage also includes combat and exploration identical to the Marvel’s Spider-Man games. PlayStation and Insomniac never revealed why The Great Web was cancelled, but it was speculated that the game was possibly being developed as a live-service, always online game, with the various Spider-Man characters and cosmetics being locked being real life money transactions. If so, PlayStation may have pulled the plug on the game due to the prevalent, negative sentiment by the gaming community over these types of games. It was the same sentiment that sunk other games with a similar design and philosophy, such as 2020’s Marvel’s Avengers and the recent Suicide Squad: Kill the Justice League. Though The Great Web is out of the picture, Insomniac is still developing the Wolverine game and according to data leak, a yet to be announced X-Men game. - By Mark Mathen Victor Spider-Man: The Great Web would have a similar look to the animated film Spider-Man: Across the Spider-Verse. - SONY PICTURESPIC Latest project by Aspyr in hot water A day after Star Wars: Battlefront Classic Collection launched with numerous issues, developer Aspyr Media was forced to put out a statement on social media on March 15. “At launch, we experienced critical errors with our network infrastructure. The result was incredibly high ping, matchmaking errors, crashes, and servers not appearing in the browser,” the statement read. Though the team acknowledged the server issues, those that bought the game were enraged how the developers conveniently did not acknowledge the other issues, such as framerate lag, missing audio and poor performance. The Aspyr team also notes that they are working at resolving the issues mentioned in the statement. On Steam, Battlefront Classic Collection is listed with the “overwhelmingly negative” tag due to the user reviews, where only 19% of the 5,529 reviews are positive. The dismal launch of the collection is part of Aspyr’s growing list of failures. Last year, the studio was delivered a class action lawsuit by Star Wars fans over a cancelled expansion to Star Wars Knights of the Old Republic II. On the same day that the collection launched, Aspyr was removed from developing the Knights of the Old Republic remake by its parent company Embracer Group after stakeholders, including Disney, were reportedly disappointed with the presentation they were shown late last year. - By Mark Mathen Victor Due to various issues, Star Wars: Battlefront Classic Collection is unplayable for many gamers. - ASPYRPIC
LYFE LYFE MONDAY | MAR 25, 2024 24 /theSunMedia FOLLOW ON YOUTUBE Malaysian Paper Expansion for Persona 3 Reload THOSE familiar with Atlus’ history would know the company makes business decisions as weird as their games’ stories. Launched earlier this year, Persona 3 Reload was a remake of the original Persona 3 from 2006. The latter had two versions – Persona 3 FES and Persona 3 Portable. Each version was the original 2006 with added, different content for each. FES had a new epilogue, while Portable had the option for players to pick a female Episode Aigis adds a new epilogue and a lengthier story. - SEGAPIC oNew content will include cosmetics and Episode Aigis epilogue █ BY MARK MATHEN VICTOR Production pauses for VR tech ACCORDING to reports that surfaced this month, Sony has halted the production of the PlayStation VR2 (PSVR2). The virtual reality headset for the PlayStation 5 has allegedly not met the company’s sales target and there is an overflow of the initial stock of the units from its Feb 23 release last year. Sales have been consistently dipping each quarter after the headsets’ launch, with Sony producing two million units since then. There are several possible reasons why the PSVR2 is not selling as well as the PS5, with the most obvious being its exorbitant price tag. Based on the Sony Store Online Malaysia listing, before its discount at the time of writing, the retail price of the PSVR2 is RM2,799. That puts it RM300 to RM730 higher than the price of the new slim digital and disc versions of the PS5, respectively. As it is, virtual reality gaming is an extremely niche market, and the ultra premium price does the headset no favours in enticing a bigger audience from the wider gaming market. Rubbing salt on the wound is how the headset does not have a lot of AAAquality games that support it, and it does not have backwards compatibility with the first PSVR headset’s library of games. As impressive as the tech behind the PSVR2 is, it has a lot going against it. On the upside, towards the end of February, the company has confirmed it is testing the PSVR2 on PC. - BY MARK MATHEN VICTOR The headsets may see a sales increase if it gets support on PC. - SONYPIC PS5 Pro specs leaked DOCUMENTATION of the official specifications for the unannounced PlayStation 5 Pro was leaked online over the March 16 weekend and reportedly comes from the Sony Interactive Entertainment’s Developer Network. The console, like many of the Pro updates to previous PlayStation consoles, comes with massive upgrades and it will refresh the current iteration of the console with its enhanced software and hardware. Core improvement is seen in the PS5 Pro’s CPU, which the documentation claims is identical to the standard PS5, but the new console has something called a “high CPU frequency mode”. It increases the CPU by 10% to 3.85GHz, but drops the GPU by 1%. On the GPU side, where rendering of images and ray tracing comes into play, the PS5 Pro will have 33.5 teraflops. For added context, the standard PS5 offers 10.28 teraflops. In normal human language, the PS5 Pro will render 45% faster than its predecessor. The documentation also states that the updated console will have something called “PlayStation Spectral Super Resolution Upscaling” for upscaling and anti-aliasing, custom machine learning architecture and an AI accelerator. With the leak, the earlier consensus by industry experts has further materialised, where Sony is expected to release the updated console to usher in the release of Grand Theft Auto VI next year. - By MARK MATHEN VICTOR The rumoured price tag on the PS5 Pro puts it above RM2,800. - SONYPIC Atlus is most likely planning another RM165 expansion pass for the content from Portable. - ATLUSPIC protagonist when starting the game. During the time of these games, Atlus was in dire financial straits, and fans at the time accepted these various versions as the company double dipping to make a profit off a successful game, while improving on the 2006 version with quality changes. Last year, Persona 3, 4 and 5 director Katsura Hashino told a Japanese radio station that at the time of Persona 3, Atlus was “about to collapse” and the game “would be their last game”. Thankfully, things turned around, especially after Sega bought Atlus’ parent company. Despite its success now, Atlus continues to employ the business decisions they were making almost 20 years ago when they were “about to collapse”. For the developers’ new Reload, the game was developed and released purely as a remake of the 2006 game, with none of the added content from FES and Portable. At the time, producer Ryota Niitsuma made it sound like Reload was developed just to remake the original 2006 experience, without the later versions’ bells and whistles. During the Xbox Partner Preview earlier this month, Atlus announced it will release an expansion originally in FES, called Episode Aigis, as part of Reload’s planned content release through its “Expansion Pass”. And it will cost an additional US$34.99 (RM165), which is half the retail cost of Reload. It will never be known why Atlus did not release Episode Aigis already included with Reload, but the company’s history of double dipping hints towards another hefty RM165 expansion in the future for Reload with content from Portable.
LYFE LYFE MONDAY | MAR 25, 2024 25 supporting cast and even guest appearances, every aspect of the casting was thoughtfully considered to ensure the perfect fit for the ensemble. The chemistry between the cast members is palpable, as they bring their characters to life with nuance and authenticity, creating a sense of immersion that draws viewers into the world of the series. Family dynamics Ji-won immerses herself in her role, a character whose journey of self-discovery serves as a focal point of the series. Opposite her, Park portrays Yoon Eun-sung, an enigmatic figure whose presence adds layers of complexity to the central relationship between Hong and Baek. Kwak takes on the role of Hong Soo-cheol, Baek’s brother, whose internal struggles and aspirations provide an intriguing counterpoint to the main storyline. Lee rounds out the cast as Cheon Da-hye, Soo-cheol’s wife, whose unwavering support and affection anchor the familial dynamics within the series. The chemistry between Soo-hyun and Jiwon’s characters crackles with intensity as they navigate the highs and lows of married life with authenticity and depth. Meanwhile, Kwak and Lee’s portrayal of Soocheol and Cheon’s relationship radiates warmth and tenderness, providing a heartwarming counterbalance to the central romance. Director Jang’s nurturing approach on set created a supportive environment for the cast, fostering collaboration and creativity among the ensemble. His keen directorial vision, coupled with Kim’s meticulous attention to detail, ensured that every aspect of the series, from the performances to the cinematography, was finely crafted to perfection. The series invites viewers on a journey of love that is sure to leave a lasting impression. Experience the emotional journey of Queen of Tears now streaming on Netflix, with new episodes premiering every Saturday and Sunday. QUEEN Of Tears weaves together the captivating narratives of Hong Hae-in (Kim Ji-won) and Baek Hyun-woo (Kim Soo-hyun), two individuals whose lives intersect in unexpected ways. As the scion of the esteemed conglomerate Queens Group, Hong carries the weight of familial expectations, while Baek, the son of a village leader, navigates the complexities of his dual identity as both a local figure and a member of the business elite. Their journey through the trials and triumphs of marriage forms the heart of the series, offering viewers a glimpse into the intricate love and familial bonds. Experienced director Crafted by the esteemed writer Park Ji-Eun, whose pen has given life to beloved dramas such as Crash Landing on You and My Love from the Star, and guided by the visionary direction of Jang Young-woo, known for his adept handling of romantic narratives, Queen of Tears promises to captivate audiences with its rich storytelling and compelling character development. With a star-studded cast featuring industry luminaries like Kim Soohyun, Kim Ji-won, Park Sung-hoon, Kwak Dong-yeon, and Lee Joo-been, the series stands poised to make a significant impact on the landscape of K-drama. The anticipation surrounding Queen of Tears reached a fever pitch at a recent press conference attended by theSun, where Jang and Kim shared their insights into the making of the series. They expressed their excitement about the opportunity to share their vision with audiences around the world, while acknowledging the challenges of meeting the high expectations set by the genre. Intricate storyline Soo-hyun, marking his highly anticipated return to television after a three-year hiatus, spoke passionately about the appeal of the narrative, particularly the exploration of familial dynamics and the challenges of living with in-laws, which his character Baek confronts with courage and resilience. Similarly, Ji-won expressed her enthusiasm for the script’s rich character development and intricate storyline, highlighting the depth and complexity of her character Hong, whose journey of self-discovery serves as a focal point of the series. The casting process for Queen of Tears was a meticulous endeavour, with director Jang and his team carefully selecting each actor and actress to bring their respective characters to life. From the lead roles to the Epic tale of romance and family ties New episodes of Queen of Tears will air on Netflix every Saturday and Sunday. █ BY THASHINE SELVAKUMARAN Queen of Tears is a romantic comedy series directed by Kim Hee-won. – ALL PICS COURTESY OF NETFLIX Kim Soo-hyun portrays the role of Baek Hyun-woo. The female protagonist played by Kim Ji-Won is the third-generation heir to Queens Group. oQueen of Tears sets the stage for an unforgettable saga of love
LYFE LYFE MONDAY | MAR 25, 2024 26 Mars concert residency is at the Park MGM in Las Vegas. – PIC FROM INSTAGRAM @BRUNOMARS Exciting Riang Ramadan Raya MUSIC sounds better when shared. Heineken menu unveiled has announced the return of its global music platform: Refresh Your Music, Refresh Your Nights. This cross-genre, cross-culture music platform invites fans to break out of their music bubbles, explore new sounds and expand their musical tastes. Back with an exciting twist, the highlight of this platform is the all-new Heineken Fresh List – an exhilarating digital experience fostering new music discovery and connections. The Fresh List embeds the spirit of music exploration, leading music lovers to discover refreshing music experiences. What is captivating about the Heineken Fresh List is its ability for music lovers to create refreshing blended playlists on Spotify with their friends and favourite artistes. Unlike typical algorithms, this innovative curation process, powered by the Heineken Refreshing Algorithm, breaks the mould by intentionally introducing tracks outside common preferences, offering refreshing new music experiences. This unique algorithm enables fans to blend their playlists with multiple friends and artists, including Martin Garrix, Uriah See, as well as DJ Ashley Lau. Heineken Malaysia Bhd marketing director Willemijn Sneep said: “At Heineken, we revel in challenging the norm, infusing every experience with a unique twist for a fresher world. Introducing the Heineken Fresh List into the brand’s ‘Refresh Your Music’ global platform reaffirms this commitment.” Fans in Malaysia can anticipate an electrifying music event Heineken Refresh soon in Kuala Lumpur as it takes revellers on a journey through fresh tunes and a spectacular audio-visual experience. Get your Heineken Fresh List and invite more friends to join. MGM Resorts has refuted a report that Bruno Mars caught a grenade in the shape of a US$50 million (RM236 million) gambling debt with them. According to earlier reports, Mars, who was set to enter his ninth year performing at a residency in Las Vegas, was in the midst of paying off a gambling debt he accrued to the casino. The report, citing an unnamed source, claimed that Mars “owes millions” to MGM from gambling, with the alleged amount coming close to the numbers above. “(MGM) basically owns him,” the report read. The same source further claimed that Mars allegedly makes US$90 million from his residency deal with the casino, but after paying off his debts and taxes, the singer takes home US$1.5 million per night. “We’re proud of our relationship with Mars, one of the world’s most thrilling and dynamic performers. “From his shows at Dolby Live at Park MGM to the new Pinky Ring lounge at Bellagio, Mars’s brand of entertainment attracts visitors from around the globe. MGM and Bruno’s partnership is longstanding and rooted in mutual respect. Any speculation otherwise is completely false; he has no debt with MGM,” MGM Resorts wrote in a statement. Focusing on his residency, Mars’ last album was An Evening With Silk Sonic from 2021, as part of the Silk Sonic supergroup duo with Anderson Paak. - By Mark Mathen Victor oSinger rumoured to have huge gambling tab in Vegas INDULGE in Marrybrown’s newest addition, the Ayam Penyet Burger Combo, or savour the fragrant Nasi Ayam Penyet Combo, both promising an explosion of flavours. For chicken enthusiasts, the Ayam Penyet Combo offers a delectable treat, while the Ayam Penyet Box Meal caters to those with hearty appetites. Quench your thirst with the refreshing Green Apple Fizz with Chewy Pearls, available with all combo meals, adding a delightful twist to your dining experience. Enhance your meal with the delicious Chocolate Pie, featuring a rich and creamy chocolate filling encased in a flaky pastry crust, providing the perfect sweet ending to your culinary journey. Beyond serving delicious food, Marrybrown aims to foster the spirit of togetherness and celebration ingrained in Malaysian culture. This latest offering seeks to provide a fulfilling meal for fellow Malaysians as they break fast with loved ones and add a special touch to the Hari Raya festivities. These special offerings are available until April 28 at all Marrybrown outlets nationwide, while stocks last. - BY YASMIN ZULRAEZ Refresh your music Casino denies Mars in debt ars in debt /thesuntelegram FOLLOW ON TELEGRAM Malaysian Paper The Nasi Ayam Penyet Combo. – PIC COURTESY OF MARRYBROWN Treasure returns to Malaysia TREASURE, the K-pop boy group from South Korea’s YG Entertainment, is set to hold the 2024 Treasure Relay Tour (Reboot) concert in Malaysia, marking their return to Malaysia after more than a year since the 2023 Treasure Tour (Hello). YG revealed that Treasure will kick off their Asia tour 2024 Treasure Relay Tour (Reboot) in May. This tour will span five cities with a total of eight concerts, with the Kuala Lumpur show confirmed on June 22. In August 2023, Treasure made a comeback with their second full album Reboot, featuring the title track Bona Bona that topped the iTunes song charts in 20 countries and regions. Reboot sales exceeded 1.72 million copies, which is more than triple the sales of their second mini-album The Second Step: Chapter Two that was released in October 2022, marking Treasure’s first millionselling record. The concert is organised by iMe MY and will take place on June 22, 2024, at Axiata Arena Bukit Jalil. Ticket prices are RM998 (VIP standing), RM898 (PS1), RM798 (PS2), RM698 (PS3), RM598 (PS4), RM498 (PS5), and RM398 (PS6), excluding an RM4 processing fee. Tickets can be purchased via my.bookmyshow.com and are limited to four tickets per person. Treasure is set to hold its concert in Axiata Arena, Bukit Jalil on June 22. – PIC COURTESY OF iME
No Reg no Make/Model Reserves 1 VFC6948 2020 PERODUA BEZZA 1.3X (A) 31340 2 WXW3615 2012 PROTON PREVE 1.6L CVT 16000 3 NDD7441 2016 PROTON SAGA 1.3 (A) 16000 4 BLK9778 2011 HONDA INSIGHT HYBRID 21000 5 BNA9730 2014 PROTON PREVE 19000 6 VDD4843 2019 PROTON SAGA 1.3L CVT 20000 7 NDA8186 2014 PERODUA MYVI 1.3 EZi 19000 8 WYK8204 2013 PROTON INSPIRA 22000 9 VHK4199 2013 VOLKSWAGEN POLO 20000 10 JMH3474 2010 PERODUA MYVI 1.3EZI 10000 11 BMQ7581 2014 PERODUA ALZA 1.5AV 20000 12 WA3190R 2014 PROTON PREVE 9000 For more information contact us at 016-6999170 | 012-5553727 (WhatsApp) www.pickles.my | info@pickles.my Scan QR to download Pickles Auctions App PICKLES ASIA SDN BHD [1231292-D] Lot 19391, Batu 8 ½, Jalan Klang Lama, Taman Desaria, 46000 Petaling Jaya, Selangor. Bank Repossessed bikes and cars for sale by auction. Auctions are conducted via eBidding on Wednesday 27 March from 9.30 onwards. All are invited to join our PUBLIC AUCTION. Viewing and inspection on every Tuesday from 9.30am - 5.30pm. All unsold bank repossessed vehicles will be reauctioned on the following Wednesday until the vehicles are sold. Download Pickles Auctions app to view all auction listings or visit www.pickles.my No Reg no Make/Model Reserves 13 WVY6743 2011 PERODUA MYVI 1.5 ZHX 16000 14 PNB6696 2017 NISSAN X-TRAIL 2.5L CVT 44000 15 PNA9676 2017 NISSAN ALMERA 1.5E 25000 16 WXN1354 2012 PERODUA MYVI TBA 17 PNW3371 2019 YAMAHA EGO SOLARIZ 2500 18 MDQ9602 2023 HONDA VARIO 160 7000 19 AMD 7966 2021 HONDA CBR150R 7000 20 PQA3260 2021 SM SPORT 110R (N2) 2000 21 VKN6472 2023 HONDA VARIO 125 5000 22 DEP4641 2023 HONDA RS-X FS150FA 7000 23 VGW2887 2021 HONDA RS150R 5000 24 VFR3092 2020 BENELLI VZ125I SE 2600 DALAM MAHKAMAH TINGGI MALAYA DI MELAKA DALAM NEGERI MELAKA, MALAYSIA BANKRAPSI NO.: MA-29NCC-32-01/2024 RE : SANKAR A/L S SHALLAIYAH (NO. K/P.: 851226-04-5339) … PENGHUTANG PENGHAKIMAN EX-PARTE : MOHEDIN BIN BAWA (NO. K/P.: 700926-05-5257) ... PEMIUTANG PENGHAKIMAN NOTIS IKLAN PENYAMPAIAN GANTI Dalam perkara mengenai Notis Kebankrapan bertarikh 24.1.2024. Kepada : SANKAR A/L S SHALLAIYAH (NO. K/P.: 851226-04-5339) BT 12 No. TB 159 Batu 21, Tebong, 76460 Alor Gajah, Melaka. AMBIL PERHATIAN bahawa satu Notis Kebankrapan bertarikh 24.1.2024 telah dikeluarkan ke atas kamu oleh Mohedin Bin Bawa (No. K/P.: 700926-05-5257) yang beralamat di No. 153, Taman Satelite, 72100 Bahau, Negeri Sembilan dan Mahkamah ini telah memerintahkan supaya sesalinan termeterai Notis Kebankrapan bertarikh 24.1.2024 dan Permohonan Untuk Mengeluarkan Notis Kebankrapan bertarikh 24.1.2024 berserta Perintah (Penyampaian Ganti) bertarikh 8.3.2024 dan Notis Pengiklanan bertarikh 8.3.2024 ditampal di alamat BT 12 No. TB 159 Batu 21, Tebong, 76460 Alor Gajah, Melaka dan juga dengan menampalkannya di papan notis di Mahkamah Tinggi di Melaka dan juga mengiklankannya di dalam akhbar “The Sun” dan bahawa penampalan dan pengiklanan tersebut hendaklah menjadi penyampaian yang sempurna dan cukup akan Notis Kebankrapan tersebut kepada kamu empat belas hari (14) selepas tindakan terakhir penampalan dan pengiklanan tersebut dilakukan. DAN AMBIL PERHATIAN bahawa tarikh pengurusan Notis Kebankrapan tersebut secara e-review dihadapan Penolong Kanan Pendaftar di Mahkamah Tinggi Malaya di Melaka, pada 19 April 2024, jam 9.00 pagi. Jika kamu berniat untuk menentang tindakan ini, kamu mestilah dalam masa empat belas (14) hari dari tarikh penampalan dan pengiklanan tersebut menjadi sempurna, memohon kepada Mahkamah untuk memasukkan kehadiran di Mahkamah ini. Jika tidak, suatu Penghakiman boleh dikeluarkan terhadap kamu. Notis Kebankrapan ini boleh diperiksa oleh kamu atas permohonan kamu di Mahkamah ini. Bertarikh pada 8 Mac 2024 t.t ……………………… Penolong Kanan Pendaftar Mahkamah Tinggi Malaya Melaka NOTIS IKLAN PENYAMPAIAN GANTI ini difailkan oleh Tetuan Sharif & Khoo yang mempunyai alamat penyampaian di No. 6, Jalan Tunku Hassan, 70000 Seremban, Negeri Sembilan. No. Tel : 06-7611257 No. Faks : 06-7635431 Emel : sharifkhoo.legal@gmail.com No. Ruj. : SK/CA/1271/22 IN THE MATTER OF THE COMPANIES ACT 2016 AND IN THE MATTER OF: - 1) DAIMAN MURNI SDN. BHD. [199401035550 (321233-T)] (In Members’ Voluntarily Winding Up) 2) EMAS & PERAK ENTERPRISE SDN. BHD. [199401003983 (289662-W)] (In Members’ Voluntarily Winding Up) 3) INCHWOOD CORPORATION SDN. BHD. [199401002913 (288591-X)] (In Members’ Voluntarily Winding Up) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 459 of the Companies Act, 2016, the Final Meeting of the Company will be held at Business Suite 19A-19-2, Level 19, UOA Centre, 19 Jalan Pinang, 50450 Kuala Lumpur, Wilayah Persekutuan on Friday, 26th April 2024 Time 1) DAIMAN MURNI SDN. BHD. 9.00 a.m. [199401035550 (321233-T)] (In Members’ Voluntarily Winding Up) 2) EMAS & PERAK ENTERPRISE SDN. BHD. 10.00 a.m. [199401003983 (289662-W)] (In Members’ Voluntarily Winding Up) 3) INCHWOOD CORPORATION SDN. BHD. 11.00 a.m. [199401002913 (288591-X)] (In Members’ Voluntarily Winding Up) for the following purposes: - i) To receive an account from the Liquidator showing the manner in which the winding up has been conducted and property of the Company has been disposed of and to hear any explanation that may be given by the Liquidator. ii) To determine the manner in which the books, accounts and documents of the Company and of the Liquidators thereof, shall be disposed of. Yow Yew Voon Liquidator Kuala Lumpur Dated : 25th March 2024 NOTE: A member entitled to attend and vote at this meeting may appoint a proxy to attend and vote on his behalf. A proxy need not be a member of the Company. The instrument appointing the proxy must be deposited with the Liquidator at the abovementioned address at least fortyeight hours before the time appointed for the Meeting. PERISYTIHARAN JUALAN DALAM MAHKAMAH TINGGI MALAYA DI PULAU PINANG PERMOHONAN UNTUK PERLAKSANAAN NO: PA-38-990-12/2023 Dalam perkara mengenai Seksyen 256 dan 257 Kanun Tanah Negara, 1965 Dan Dalam perkara mengenai Gadaian Perserahan No: 0799SC2021003161( bertarikh : 05/02/2021) ke atas semua bahagian tanah yang dipegang di bawah Geran 61846/M1/16/114, 4200, Daerah Timor Laut, Pulau Pinang Dan Dalam perkara mengenai Aturan 83 Kaedah- Kaedah Mahkamah, 2012 ANTARA STANDARD CHARTERED BANK MALAYSIA BERHAD (No. Pendaftaran Perniagaan : 115793-P) ...PLAINTIF DAN Koh Wei Lin (No. Kad Pengenalan: 930226015426) ...DEFENDAN Menurut Perintah Mahkamah Tinggi Malaya di PULAU PINANG mengenai Perintah Jualan dan Perintah bertarikh 16 Ogos 2022 dan 27 Februari 2024, adalah dengan ini diisytiharkan bahawa Timbalan Pendaftar/Penolong Kanan Pendaftar Pusat Operasi e-Lelong di Kuantan AKAN MENJUAL SECARA LELONG AWAM Pada Hari Rabu, 24 April 2024, Pada Jam 11:00 pagi, SECARA ELEKTRONIK DI LAMAN WEB e-LELONG, PUSAT OPERASI e-LELONG, KOMPLEKS MAHKAMAH KUANTAN, PAHANG DARUL MAKMUR NOTA: Bakal pembeli adalah dinasihatkan agar membuat carian Hakmilik secara rasmi di Pejabat Tanah dan memeriksa semua tanggungan, bebanan serta mengenal pasti dengan tepat hartanah tersebut sebelum jualan lelongan dijalankan. Sila layari https://elelong.kehakiman.gov.my/bidderweb BUTIR-BUTIR HAKMILIK: No. Hakmilik : Geran 61846/M1/16/114 No. lot : 4200 Mukim / Daerah / Negeri : - / Timor Laut / Pulau Pinang Pegangan : Hakmilik Kekal No. Petak/No. Tingkat/ No. Bangunan : 114/16/M1 Keluasan Tanah : 1141.0000000000 kaki persegi 106.0000000000 meter persegi Pemilik Berdaftar : Koh Wei Lin Syarat Nyata : Petak ini hendaklah digunakan untuk tujuan pangsapuri sahaja Sekatan Kepentingan : Tiada Bebanan / Lain-Lain : Kawasan Rizab : Kaveat : LOKASI DAN PERIHAL HARTANAH : Hartanah tersebut adalah Kondominium 3 Bilik Tidur yang beralamat pos di Unit No. 1A-15-B, Jalan Chee Seng 13, Leader Garden, 11200, Tanjong Bungah, Pulau Pinang. HARGA RIZAB : Hartanah tersebut akan dijual atas “sepertimana sedia ada” tertakluk kepada satu harga rizab sebanyak RM 335,340.00 (RINGGIT MALAYSIA: (RINGGIT MALAYSIA: TIGA RATUS TIGA PULUH LIMA RIBU TIGA RATUS EMPAT PULUH SAHAJA) dan kepada syarat-syarat jualan yang dilampirkan. Pembida yang berminat hendaklah mendepositkan 10% daripada harga rizab dalam bentuk Bank Draf di atas nama STANDARD CHARTERED BANK MALAYSIA BERHAD 1 HARI BEKERJA sebelum tarikh lelong awam. Baki harga belian hendaklah dibayar oleh pembida yang berjaya kepada STANDARD CHARTERED BANK MALAYSIA BERHAD dalam tempoh seratus dua puluh (120) hari dari tarikh jualan. Untuk butir-butir selanjutnya, sila berhubung dengan:- Firma Guaman : SEE RAMSUN & TAN Alamat : 8 TAVOY ROAD , 10050, PG, MY No. Telefon : 04-2295811 No. Fax : 04-2265988 No. Rujukan : CKM/LCS/ER/SCB/22/3710 NOTICE OF APPLICATION FOR VOLUTARY WINDING UP OF LIMITED LIABILITY PARTNERSHIP (Section 50(4)(a) of the Limited Liability Partnerships Act 2012) Notice is hereby given that BEJOIN PLT [LLP No. 201704002403 (LLP0012529- LGN)] will be making an application to the Registrar of Limited Liability Partnerships for a declaration of dissolution pursuant to section 50(2) of the Limited Liability Partnerships Act 2012 within seven (7) days after the publication of this notice. Any partner or creditor of the LLP desiring to object to the application may do so in writing to the Companies Commission of Malaysia within thirty (30) days from the date of this notice. DALAM MAHKAMAH TINGGI MALAYA DI KUALA LUMPUR DALAM NEGERI WILAYAH PERSEKUTUAN KUALA LUMPUR GUAMAN NO: WA-22M-109-02/2024 ANTARA MALAYSIA DEBT VENTURES BERHAD (NO. PENDAFTARAN: 200201010450) ... PLAINTIF DAN 1. MENUM INDUSTRIES SDN BHD (NO. PENDAFTARAN: 201601001417) 2. MARIWEALTH ENGINEERING & CONSULTANCY SDN BHD (NO. PENDAFTARAN: 199001009083) 3. NIK MARZUKI BIN NIK MUHAMMAD (NO. K/P: 701101-03-5125) 4. MUHAMAD SIDIK BIN IBRAHIM (NO. K/P: 670912-03-5509) 5. SURESH A/L A CHANDRAN (NO. K/P: 710123-01-5525) ... DEFENDAN-DEFENDAN N O T I S Kepada: 1. MARIWEALTH ENGINEERING & CONSULTANCY SDN BHD (No. Pendaftaran: 199001009083) Lot 3, Jalan Perusahaan 4 Kawasan Perindustrian Beranang 43700 Beranang, Selangor AMBIL PERHATIAN bahawa satu tindakan telah dikeluarkan terhadap kamu, MARIWEALTH ENGINEERING & CONSULTANCY SDN BHD di Mahkamah Tinggi Malaya di Kuala Lumpur oleh MALAYSIA DEBT VENTURES BERHAD di mana pihak Plaintif menuntut terhadap kamu sebagai Defendan Ke-2 seperti yang tertera di dalam Writ Saman dan Pernyataan Tuntutan bertarikh 2.2.2024 (“Writ Saman dan Pernyataan Tuntutan tersebut”). DAN TELAH DIPERINTAHKAN bahawa Writ Saman dan Pernyataan Tuntutan tersebut disampaikan terhadap kamu secara penyampaian ganti dengan menampalkan sesalinan Writ Saman dan Pernyataan Tuntutan tersebut berserta dengan sesalinan Perintah untuk penyampaian ganti (“Kertas-kertas kausa tersebut”) pada Papan Notis Mahkamah Tinggi Malaya di Kuala Lumpur dan pada suatu bahagian yang terang di premis alamat terakhir kamu yang diketahui, iaitu di Lot 3, Jalan Perusahaan 4, Kawasan Perindustrian Beranang, 43700 Beranang, Selangor dan dengan mengiklankan sekali Notis ini dalam suatu surat khabar tempatan iaitu “The Sun”, dan penampalan dan pengiklanan sedemikian akan dianggap sebagai penyampaian sempurna dan memadai ke atas kamu empat belas (14) hari selepas tarikh akhir penampalan dan pengiklanan tersebut. Sekiranya kamu berhasrat untuk membela tindakan ini, kamu dikehendaki dalam tempoh duapuluh satu (21) hari selepas tarikh akhir penampalan dan pengiklanan memasukkan kehadiran di Pejabat Pendaftaran Mahkamah Tinggi Malaya di Kuala Lumpur dan menyampaikan sesalinannya kepada Peguamcara Plaintif. Jika kamu ingkar berbuat demikian, satu Penghakiman boleh dikenakan terhadap kamu. Bertarikh pada t.t ................................................. Penolong Kanan Pendaftar Mahkamah Tinggi Malaya Kuala Lumpur Notis ini difailkan oleh Tetuan Kee Sern, Siu & Huey, peguamcara Plaintif yang mempunyai alamat penyampaian di No. 468-11E(2), Tingkat 2, Blok C, Rivercity, Jalan Sultan Azlan Shah (dahulunya Jalan Ipoh), 51200 Kuala Lumpur. Tel : (603) 9212 2688 Fax : (603) 4044 0448 Email: general@ksshlegal.com [Ruj:ASX/LPT/GL05/MDVMISB/230353] 322 Notices DIGITAL MARKETING SENIOR EXECUTIVE / ASSISTANT MANAGER Job Description: • Design and develop online marketing strategies, digital roadmap and creative campaign that align with the business goals and directions. • Provide creative ideas for content marketing. • Manage all digital marketing channels. • Plan and manage social media platforms. • Able to create content & produce graphics for social media posts. Requirement: • Diploma / Degree in Marketing, Digital Marketing or equivalent. • At least 3 years experience in digital marketing. • Excellent understanding of digital marketing concept and best practices. • Required skill(s): Google Analytics, SEO/SEM, social media marketing and optimisation. • Team player and great communication skills. ADVERTISING SALES & MARKETING EXECUTIVE / SENIOR EXECUTIVE Job Description: • Building and sustaining strong working relationship with advertising clients. • Plan and executive new, creative, exciting and innovative marketing campaigns for the company. • Develop and continuously improve marketing material, product/services presentations and proposals. • Passionate in serving client accounts to improve sales revenue. Requirement: • Diploma or Bachelor’s degree in business, marketing or other related fields. • At least 2 years of sales and marketing experience in media industry. • Good communication, presentation, problem-solving and organisational skills. • Possess own transport and willing to travel. • Able to start work immediately. Submit your CV with your photo via e-mail to: thesun.hr2@gmail.com Office based in Petaling Jaya (5-day week) WE ARE HIRING Manager – Finance and HR Job Description: • To handle full set of accounts, month-end closing, year - end closing, audit schedules, tax, stock control, etc. • Responsible for management, statutory and group reporting, development of business plans, budget and cash flow forecast. • Oversee recruitment, manage payroll system, staff benefit, yearly performance and appraisal. • Develop & implement HR policies to support company business objectives and compliance with law and regulatory requirements. • To handle legal and disciplinary matters including staff counselling in compliance with local Labour Law. • Other administration duties where required and part of job scope. • Any other duties as assigned by the superior / management from time to time. Requirements: • Candidate must possess at least Professional or Degree in Finance/Accountancy or equivalent. • At least 5 years managerial/supervising of working experience in audit, financial accounting and HR. • Familiarity with Accpac, ERP Accounting & HR software would be added advantages. • Computer literate and skillful in Ms Excel, Word & PowerPoint. • Good command of written and spoken English. Proficiency in Bahasa Malaysia & Mandarin will be added advantages. 322 Notices IN THE HIGH COURT OF MALAYA AT KUALA LUMPUR IN THE STATE OF FEDERAL TERRITORY OF KUALA LUMPUR (COMMERCIAL DIVISION) COMPANIES WINDING-UP NO.: WA28NCC-1267-12/2023 In the matter of Section 464(1)(a) and Section 465(1)(a), (e) and (h) of the Companies Act 2016; AND In the matter of ICart Malaysia Sdn Bhd (Registration No.: 201401039662 (1115814-K)); AND In the matter of the Companies (Winding -Up) Rules 1972 ICART MALAYSIA SDN BHD Registration No.: 201401039662 (1115814-K) … PETITIONER NOTICE OF WINDING-UP ORDER IN the matter of ICart Malaysia Sdn Bhd (Registration No.: 201401039662 (1115814-K)). Winding-up Order made on 18th March, 2024. Name and Address of liquidator appointed by this Honourable Court: Official Receiver of Malaysia Malaysia Department of Insolvency (Liquidation Department) Kuala Lumpur Branch 22, 23, 24 & 25, Menara TH Perdana 1001, Jalan Sultan Ismail 50250 Kuala Lumpur Dated this 21st day of March 2024. ……………..s.g.d.…………… Messrs Kee Sern, Siu & Huey Solicitors for the Petitioner This NOTICE OF WINDING-UP ORDER is filed by Messrs. Kee Sern, Siu & Huey, solicitors for the Petitioner herein and whose address for service is at No. 468-11E(2), 2nd Floor, Block C, Rivercity, Jalan Sultan Azlan Shah (formerly Jalan Ipoh), 51200 Kuala Lumpur. Tel : (603) 9212 2688 fax : (603) 4044 0448 Email: general@ksshlegal.com [Ref: ASX/LKS/GL07/IMSB/230315] IN THE MATTER OF THE COMPANIES ACT, 2016 AND IN THE MATTER OF DREAM HOME VENTURE SDN. BHD. Co. No. 201601036684 (1207625-A) (In Members Voluntary Winding Up) The following Special Resolution was duly passed by the members of DREAM HOME VENTURE SDN. BHD. on the 25th March, 2024 in accordance with Section 439 of the Companies Act, 2016. ‘That the Company be wound up voluntarily pursuant to Section 439 of the Companies Act, 2016 and that Mr. Taufik bin Mohd Salleh of Suite 1603, Level 16, Plaza Pengkalan, Jalan Tiong Off Jalan Ipoh, 51200 Kuala Lumpur be and is hereby appointed Liquidators for the purpose of such winding-up’. Dated this: 25th March, 2024 Sgnd …………………………………… YAP CHIN CHON Director IN THE MATTER OF THE COMPANIES ACT, 2016 AND IN THE MATTER OF DREAM HOME VENTURE SDN. BHD. Co. No. 201601036684 (1207625-A) (In Members Voluntary Winding Up) Notice is hereby given that the creditors of the above named Company, which is being voluntarily wound up, are required on or before 25th April, 2024 (30 days from advertised date ) to send in their names and addresses with particulars of their debts and claims and of any security held by them, and the names, addresses of their solicitors (if any) to the undersigned Liquidator at Suite 1603, Level 16, Plaza Pengkalan, Jalan Tiong Off Jalan Ipoh, 51200 Kuala Lumpur, and if so required by notice in writing from the said Liquidator, are by their Solicitors or personally to come in and prove their debts and claims at such time and place as shall be specified in such notice or in default thereof they shall be excluded from the benefit of any distribution made before such debts or claims are proven. Dated this: 25th March, 2024 Sgnd …………………………. TAUFIK BIN MOHD SALLEH Liquidator IN THE MATTER OF THE COMPANIES ACT, 2016 AND IN THE MATTER OF SANDAKAN SPECIALTY FATS SDN. BHD. Company Number: 200601013472 (733223-U) (IN MEMBER’S VOLUNTARY WINDING-UP) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN that the Final Meeting of the shareholder of the above-mentioned company will be held at 12th Floor, UBN Tower, No. 10, Jalan P. Ramlee, 50250 Kuala Lumpur on 30 April 2024 at 9.30 am for the following purposes:- 1. To receive the Liquidator’s statement of accounts for the period from 24 March 2023 to 30 April 2024, showing the manner in which the winding up has been conducted and to receive any explanation thereon; and 2. To authorise the manner in which the books, accounts and documents of the Company and of the Liquidator shall be disposed of. Loo Hin Lam Liquidator Petaling Jaya Dated: 25 March 2024 Notes: 1. A shareholder entitled to attend and vote at the meeting is entitled to appoint a proxy to attend and vote in his stead. A proxy need not be a shareholder of the Company. 2. The instrument appointing a proxy must be deposited at 12th Floor, UBN Tower, No. 10, Jalan P. Ramlee, 50250 Kuala Lumpur not less than 48 hours before the time for holding the meeting or any adjournment thereof. LGI TECHNOLOGY MALAYSIA SDN. BHD. [200601012531 (732281-K)] (IN MEMBERS’ VOLUNTARY WINDING-UP) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN that a Final Meeting of the Company will be convened and held at 9-1, 9th Floor, Wisma Penang Garden, 42, Jalan Sultan Ahmad Shah, 10050 George Town, Pulau Pinang on Thursday, 25 April 2024 at 10.00a.m. to consider the following items of the business:- AGENDA 1) To receive and consider the Liquidator’s account of receipts and payments and statement of distribution among the contributories and any explanation arising therefrom. 2) To resolve that the books, accounts and documents of the Company and of the liquidators thereof shall be disposed of at the expiration of 3 months after the lodging of the return. Penang Dated: 25 March 2024 LIM YONG CHIAT (f) KOAY WEN JIAN Liquidators 9-1, 9th Floor, Wisma Penang Garden, 42, Jalan Sultan Ahmad Shah, 10050 George Town, Pulau Pinang. 322 Notices SCAN ME MONDAY MAR 25, 2024 TEL: 03-7784 6688 FAX: 03-7785 2625 EMAIL: classifieds@thesundaily.com
SPORTS MONDAY | MAR 25, 2024 28 ARYNA SABALENKA, back on court for the second time in as many days following the apparent suicide of former boyfriend Konstantin Koltsov, had a difficult and emotional week come to an end on Saturday with a 6-4, 1-6, 6-1 loss to Anhelina Kalinina. After a gutsy second round win on Friday over good friend Paula Badosa the world No. 2 appeared to have little left in the tank physically, mentally or emotionally for a late night Stadium court battle with Ukrainian Kalinina. When her return wide gave Kalinina the match the 25-year-old Belarusian bowed her head, took a few steps then flew into a rage, venting her frustration by smashing her racquet to pieces at centre court. With racquet destroyed, she then turned and walked off court without shaking the Ukrainian’s hand. “It’s always tough to play on big stages against these top players,” said Kalinina. “Today was really tough with nerves but I managed in the tough moments to deal with it. “So I’m a little bit proud of myself today.” The result and outburst are hardly a surprise coming at the end of a pressurepacked week for the Australian Open champion. The news of Koltsov’s death sent a shockwave through the Miami Open as Sabalenka’s fellow players rallied around her, including her opponent Badosa. Sabalenka was very much in control of her emotions and slowly found her form in a 6-4 6-3 win over Badosa but slowly unravelled against Kalinina and could never regain her composure. Her usually reliable forehand never consistently hit the mark while managing six double faults against just three aces. “I missed a lot of opportunities, she started to play more aggressive in the second set,” said Kalinina. “I think she played really, like, she stepped in and did some incredible, like, very fast rallies. “But third set, yes, I was also more aggressive. That was my goal.” – Reuters DALAM MAHKAMAH TINGGI DI SHAH ALAM DALAM NEGERI SELANGOR DARUL EHSAN, MALAYSIA PENGGULUNGAN SYARIKAT NO.: BA-28NCC-718-12/2023 Dalam Perkara Seksyen 466(1)(a) dan 465(1)(e) Akta Syarikat 2016 Dan Dalam Perkara AG Giant Sdn Bhd (No. Syarikat: 202001042726 (1399047-P)) Dan Dalam Perkara Kaedah-Kaedah (Penggulungan) Syarikat 1972 ANTARA MOHD HAZIM BIN MOHD NOORDIN (No. K/P: 630114-08-5345) .... PEMPETISYEN DAN AG GIANT SDN BHD (No. Syarikat: 202001042726 (1399047-P)) .... RESPONDEN NOTIS IKLAN NOTIS ADALAH DENGAN INI DIBERI bahawa suatu Petisyen untuk Penggulungan Syarikat yang dinamakan di atas oleh Mahkamah Tinggi telah pada 18 haribulan Disember, 2023 dikemukakan oleh MOHD HAZIM BIN MOHD NOORDIN. DAN bahawa Petisyen tersebut diarahkan supaya dibicarakan di hadapan Mahkamah yang bersidang di Mahkamah Tinggi Shah Alam pada pukul 9.00 pagi, pada 06 haribulan Mei, 2024. DAN mana-mana pihak pemiutang atau penyumbang Syarikat tersebut yang ingin menyokong atau menentang sesuatu perintah mengikut Petisyen tersebut boleh hadir dengan tujuan itu secara peribadi atau melalui peguambelanya pada masa perbicaraan. Salinan Petisyen tersebut akan dibekalkan oleh pihak yang bertandatangan di bawah ini kepada mana-mana pemiutang atau penyumbang Syarikat tersebut yang memintanya dengan membuat bayaran yang ditetapkan. Alamat pendaftaran Pempetisyen adalah di 2-25, The Cube, Jalan Puteri 7/15, Bandar Puteri, 47100 Puchong, Selangor dan/atau alamat perniagaannya adalah di No. 13, Jalan Bestari 1/KU7, Taman Perindustrian Kapar Bestari, 42200 Kapar, Selangor. Peguamcara Pempetisyen ialah Tetuan Azraai, Hazieq & Zikry yang beralamat di B-8-5A, Tingkat 8, Blok B, Menara Uncang Emas, Jalan Loke Yew, 55200, Kuala Lumpur. Bertarikh pada 08 haribulan Mac, 2024 t.t ...................................... TETUAN AZRAAI, HAZIEQ & ZIKRY Peguamcara bagi pihak Pempetisyen PERINGATAN: Sesiapa yang ingin hadir pada perbicaraan Petisyen tersebut hendaklah menyampaikan, atau menghantar dengan pos, kepada peguamcara yang dinamakan di atas suatu notis bertulis tentang niatnya sebegitu. Notis tersebut mestilah menyatakan nama dan alamat pihak berkenaan, atau jika ia sebuah firma, nama dan alamat firma, dan mestilah ditandatangani oleh pihak atau firma berkenaan atau peguamcaranya, jika ada. Notis hendaklah disampaikan, atau jika dihantar dengan pos, hendaklah dihantar dalam jangkamasa mencukupi, supaya sampai kepada pihak yang dinamakan di atas sebelum pukul 12 tengahari pada 05 haribulan Mei, 2024 (sehari sebelum tarikh yang ditetapkan untuk perbicaraan Petisyen tersebut). [Ruj Kami: AHZ/2.2/473/2022/MHMN(AGG)] 322 Notices IN THE MATTER OF THE COMPANIES ACT 2016 AND IN THE MATTER OF TAMBUN EMASJAYA SDN BHD Registration No.: 201501043994 (1169315-P) (IN MEMBERS’ VOLUNTARY WINDING UP) Notice is hereby given pursuant to Section 439(2)(b) of the Companies Act 2016, that the Resolution set out below was duly passed by the Members of the Company on 19 March 2024: SPECIAL RESOLUTION - MEMBERS’ VOLUNTARY WINDING UP “That approval be and is hereby given for the Company to proceed with a members’ voluntary winding up pursuant to Section 439(1)(b) of the Companies Act 2016. And that pursuant to Section 445(1) of the Companies Act 2016, Mr Cheai Weng Hoong and Ms Ooi Wooi Kean both of No. 1 Jalan Lasam, 30350 Ipoh, Perak Darul Ridzuan be and are hereby appointed as the Liquidators to act for the purpose of winding up the affairs of the Company and distributing its assets at a remuneration to be determined by the directors.” Cheai Weng Hoong Company Secretary Ipoh Date: 25 March 2024 IN THE MATTER OF THE COMPANIES ACT 2016 AND IN THE MATTER OF TAMBUN EMASJAYA SDN BHD Registration No.: 201501043994 (1169315-P) (IN MEMBERS’ VOLUNTARY WINDING UP) NOTICE IS HEREBY GIVEN that the creditors of the abovenamed Company which is being wound up voluntarily are required on or before 15 May 2024 to send their names and addresses with particulars of their debts or claims and the names and addresses of their solicitors (if any) to the undersigned Liquidators of the abovenamed Company; and if so required by notice in writing from the Liquidators, either by their solicitors or personally to come in and prove their debts or claims at such time and place as shall be specified in such notice or in default thereof they will be excluded from the benefits of any distribution made before such debts are proved or such priority is established or as the case may be, from objecting to such distribution. Ipoh Date: 25 March 2024 Cheai Weng Hoong Ooi Wooi Kean Liquidators No. 1 Jalan Lasam 30350 Ipoh, Perak Darul Ridzuan IN THE MATTER OF THE COMPANIES ACT, 2016 AND IN THE MATTER OF AMITY HOMES SDN. BHD. Company Registration No. 199501040735 (369939-P) (In Members’ Voluntary Liquidation) At an Extraordinary General Meeting of the Members of Amity Homes Sdn. Bhd., duly convened and held on Friday, 22 March 2024, the following resolutions were duly passed: 1. That the Company be wound up voluntarily by way of Members’ Voluntary Winding Up pursuant to Section 439(1)(b) of the Companies Act, 2016. 2. That in accordance with Section 445(1) of the Companies Act, 2016, Loh Lam of 10A, Highland Park, 33000 Kuala Kangsar, Perak, be and is hereby appointed as the liquidator for the purposes of the winding up. Loh Lam Director Dated this: 25 March 2024 NOTICE IS HEREBY GIVEN THAT the creditors of the abovenamed Company which is being voluntarily wound-up are required on or before the 25 April 2024 to send in their names and addresses with particulars of their debts and claims and the names and addresses of their solicitors (if any) to the abovementioned Liquidator and if so required by notice in writing from the said Liquidator, by their solicitors or personally, to come in and prove their debts and claims at such time and place as shall be specified in such notice, or in default thereof they will be excluded from the benefit of any distribution made before such debts and claims are proved. Loh Lam Liquidator Dated this: 25 March 2024 Sabalenka exits Miami Open Emotional Belarusian sent crashing out by Kalinina in round three Pant’s ‘emotional’ IPL return ends in loss DELHI CAPITALS skipper Rishabh Pant tamed his nerves to return to action in the Indian Premier League (IPL) on Saturday after 15 months out following a car accident, but the wicketkeeper-batsman had to settle for an opening defeat by Punjab Kings. Pant was involved in a near-fatal crash in December 2022 that required him to have multiple surgeries and he missed last year’s IPL as well as India’s 50-overs World Cup campaign on home soil. The 26-year-old made a quiet comeback with 18 runs from 13 balls as Delhi scored 174-9 in 20 overs but his team fell to a fourwicket defeat after paceman Ishant Sharma’s ankle injury left them short of experience in the death overs. “Personally, I was pretty nervous but you have to go through this when you enter the field,” Pant told the official broadcast about his much-awaited comeback. “But this isn’t the first time you’re feeling nervous. “I’m happy about (returning) but at the same time, I think we had a par score. We were one bowler short because of Ishant’s injury… we can’t do much about it.” Delhi assistant coach Pravin Amre said the team had missed Pant last season. The team finished second from bottom in 2023. “As coaches we don’t get emotional but this one was emotional. To me it was special because I’ve seen him and his journey for Delhi,” Amre told reporters. “We’re happy with the way he conducted himself and credit to him, because it’s not that easy to come back after 15 months and handle that pressure. “I think he’s the guy to take it on. We want him to go out there and deliver with his keeping and batting. It was really good to see him back on the field.” – Reuters TOP SEED Carlos Alcaraz and No. 2 Jannik Sinner took the first confident steps towards the mouth-watering Miami Open final tennis fans want to see by romping into the third round on Saturday with blowout wins. Tennis’s newest and hottest rivalry was dialed up a notch last week in the Indian Wells semifinals when Alcaraz put the first blemish on Sinner’s perfect season by halting the Italian’s 16 match winning streak. Sinner shrugged off the loss saying Miami would be a fresh start, which began with a breezy 6-3 6-4 workmanlike win over fellow Italian Andrea Vavassori. Alcaraz, who went on to win Indian Wells and arrives in Miami bidding to complete the “Sunshine Double”, was no less efficient in a clinical 6-2, 6-1 win over Roberto Carballes Baena in an all Spanish encounter. The win certainly impressed three-times grand slam winner Andy Murray who went on X immediately after the match and posted, “Watching Alcaraz play tennis makes me smile”. “That’s pretty cool for a legend like Andy to say something like this that he enjoys a lot watching my matches,” said Alcaraz. “It’s crazy for me. He has seen a lot of tennis during his career, a lot of matches, a lot of players.” With the two young guns hogging the spotlight, defending champion Daniil Medvedev has been flying under the radar but that may not last much longer after the third seed moved on with a tidy 6-4, 6-2 win over Hungarian Marton Fucsovics. After two days of rain the sun returned to the Miami Open – three of the top four-ranked American men led by 12th seed Taylor Fritz crashed out in the second round. Joining Fritz were 13th seed Tommy Paul and 21st-seeded Frances Tiafoe, leaving No. 16 Ben Shelton as the highest-ranked American standing. Brazilian qualifier Thiago Seyboth Wild kicked off the action on Stadium court with a 6- 3, 6-4 upset of Fritz. “I played a really solid match today, I barely missed,” said Wild, who is no stranger to producing upsets, beating Daniil Medvedev at last year’s French Open. “It was exactly the plan with my coach before the match.” – Reuters Alcaraz, Sinner on course to mouth-watering showdown SHORTS Harrington leads at Hoag Classic IRELAND’S Padraig Harrington played his last four holes in 4-under en route to a 67 to claim a one-stroke lead at the Hoag Classic yesterday in Newport Beach, Calif. Harrington sits at 12-under 130 after 36 holes. He leads Thailand’s Thongchai Jaidee (69), who owns sole possession of second at 11-under 131. Following a bogey on the 14th, Harrington finished eagle-par-birdiebirdie to end his round with the lead. “The first 14 holes it was the opposite of (Friday), I seemed to play nicely and not score very well, but then those last four holes make up for it,” Harrington said, in search of his seventh win on the Champions Tour. “And I was pushing hard over the last four holes. We don’t know what we’re going to get, it was important to be tying the lead by the end of the day if not leading. I think I got my mindset a bit, maybe making a bogey at 14 kind of kicked it off a little bit and it was a nice way to finish,” he added. Miguel Angel Jimenez of Spain (68) and England’s Paul Broadhurst (70) are three shots back in a tie for third. South Korean Y.E. Yang (66), Steve Stricker (67) and Woody Austin (68) are within striking distance at 8 under, clustered at T5. Jimenez also closed strong after posting three bogeys on the front nine. He went birdie-birdie-eagle on Nos. 13- 15 before closing with a birdie on the par-5 18th. “My game is good overall, it’s good. I’m hitting pretty good from the tee, my irons good, the putt is start working after hole No. 8. That’s all you need,” Jimenez said. Fred Couples withdrew after nine holes yesterday, citing injury. Sri Lanka lead against Bangladesh DHANANJAYA DE SILVA closed in on his second century of the match as Sri Lanka built on their lead in the second innings of the first Test against Bangladesh in Sylhet yesterday. The visitors reached 233-6 at lunch on the third day, leading Bangladesh by 325 runs, with de Silva, who made 102 in the first innings, unbeaten on 85 at the break. Kamindu Mendis, who also scored a century in the first innings, was accompanying him on 50 not out. The pair, who shared 202 runs in Sri Lanka’s first innings total of 280 runs, put on another big stand in the second innings, with the partnership unbroken on 107. Bangladesh were bowled out for 188 runs in the first innings. Sri Lanka have never lost a Test series to Bangladesh. The second and final match of the series will be played in Chittagong from March 30. Sabalenka
SPORTS SPORTS MONDAY | MAR 25, 2024 29 Ferrari reignsin Melbourne in Melbourne Brave Sainz wins Australian Grand Prix after Verstappen retires FERRARI’S Carlos Sainz won the Australian Grand Prix yesterday in a triumphant return two weeks after appendicitis surgery as Red Bull’s world champion Max Verstappen suffered his first retirement in two years. Sainz, the only non-Red Bull driver to win a race last season, held off teammate Charles Leclerc before a final-lap crash by Mercedes driver George Russell triggered a virtual safety car and eased the Spaniard’s path to victory. “It was a really good race. I felt really good out there,” said Sainz, who missed the second race of the season in Saudi Arabia while recovering from surgery. “Of course a bit stiff and especially physically it wasn’t the easiest but I was lucky that I was more or less on my own and I could manage my pace, manage the tyres, manage everything, and it wasn’t the toughest race of all. “But very happy, very proud of the team, and happy to be in a one-two with Charles here.” Briton Lando Norris was third for McLaren, thwarting fourth-placed team mate Oscar Piastri’s hopes of a first podium by an Australian driver at the F1 race. Norris now has the most podiums (14) without a win in F1. Leclerc recorded the fastest lap to cap a productive day for Ferrari, who are now just four points behind Red Bull in the constructors’ championship. Verstappen still leads the drivers championship after his wins in Bahrain and Saudi Arabia, the Dutchman on 51 points ahead of Leclerc with 47. Red Bull’s Sergio Perez, who finished fifth, is one point further adrift of Leclerc, with Sainz leaping to fourth in the standings, 11 points behind Verstappen. “We just didn’t have the pace today. We didn’t have the pace throughout the weekend,” lamented Perez, adding that Ferrari would “absolutely” have won even if Verstappen went the distance. Verstappen started on pole for the third time this season but retired on the fourth lap with a brake problem as flames leaped out of the right rear of his car. “I have smoke,” he said over the radio “Fire, fire, brake, my brake.” It was his first DNF since retiring from Albert Park in the 2022 race and ended his run of nine successive race wins. Verstappen remonstrated with performance director, Tom Hart at the back of the garage – appearing to say “that is f***** stupid” – before heading to his changing room and putting on his Red Bull civvies and taking the long walk through the paddock to the media pen. The 26-year-old said he was basically driving with the handbrake on from the start. “The brake stuck on from when the lights went off,” said Verstappen. “The temperatures kept on increasing until the point where it caught on fire. “Having one brake caliper on was like driving with the handbrake on. I didn’t know at the time but I could feel the balance in the car was off.” Asked about his exchange with Hart, he replied: “That was related to us doing a pit stop while the car was on fire!” Red Bull have now suffered two defeats in 26 races dating back to the last round of 2022. Seven-times world champion Lewis Hamilton was also forced to retire early with a power unit problem after starting 11th on the grid following his worst Melbourne qualifying since 2010. His teammate Russell completed a dismal day for the Silver Arrows by skidding into gravel at turn six and crashing into the barrier to wreck his car and bring out the virtual safety car. Aston Martin’s Fernando Alonso was sixth after starting 10th on the grid but was summoned to the stewards over Russell’s crash. Alonso’s teammate Lance Stroll was seventh, while Yuki Tsunoda was eighth, delivering RB their first points of the season. Ninth-placed Nico Hulkenberg and Haas team mate Kevin Magnussen rounded out the top 10. Williams had only one driver in the race, with Alex Albon finishing 11th and out of the points in his teammate Logan Sargeant’s car, the American ordered to make way after Albon wrecked his own car in Friday practice. – Reuters/The Independent CHRISTIAN HORNER (pix) jumped to the defence of Max Verstappen after the Dutchman was seen clashing with a Red Bull engineer following his retirement from the Australian Grand Prix. Verstappen was hunting a 10th straight victory but was forced to call it a day after just five laps with smoke billowing from the back of his car. The 26-year-old was then involved in a frosty exchange with an engineer in the Red Bull garage before storming away from the scene. A few minutes later, he emerged after getting changed out of his race suit and was seen chatting with Horner on the pit wall. Speaking after the race, the Red Bull team principal insisted that Verstappen was ‘very gracious’ with his colleagues despite appearing to let his frustrations boil over. “Obviously a driver is going to be frustrated when he gets out of a car from a retirement,” said Horner on Sky Sports F1. “I think he’s been very gracious with the team and all of the mechanics. It hurts everybody in the same way. It’s a matter of learning from it. “We’ve had two years with no mechanical DNFs which has been remarkable. It’s a matter of understanding what caused it and learning from it and moving on. “It’s remarkable after three races that he’s still leading the world championship even with that DNF but, as I say, a lot of lessons to take from today.” A rear brake failure was responsible for e n d i n g Verstappen’s race, with the Red Bull man powerless to prevent the issue from ruining his hopes of victory in Melbourne. He compared the experience to driving with the handbrake on, saying: “We could see some fire as soon as the lights went off. “The right rear brake stuck on and the damage kept increasing. It was basically like driving with the handbrake on. It was really weird to drive in some corners. If a brake is stuck on it doesn’t help. You could see one brake, the right rear brake, stuck on. The team will investigate.” Horner went on to confirm that Verstappen’s brakes were not working properly from the outset, saying: “It looks like the brake was bound on pretty much from the start of the race, and that’s why Max described it as like having a handbrake which caused him to have a couple of moments. “Of course, the heat is building and building (which caused) the resulting fire. We’ve got all the bits back now and we’re going through the damage. We’ll go through and understand exactly what caused it.” – Express Newspapers Horner sets record straight on Max and Hart clash AUSTRALIAN GRAND PRIX: 1. Carlos Sainz (Ferrari), 2. Charles Leclerc (Ferrari), 3. Lando Norris (McLaren), 4. Oscar Piastri (McLaren) 5. Sergio Perez (Red Bull), 6. Fernando Alonso (Aston Martin), 7. Lance Stroll (Aston Martin), 8. Yuki Tsunoda (RB), 9. Nico Hulkenberg (Haas), 10. Kevin Magnussen (Haas), 11. Alexander Albon (Williams), 12. Daniel Ricciardo (RB), 13. Pierre Gasly (Alpine), 14. Valtteri Bottas (Sauber), 15. Zhou Guanyu (Sauber), 16. Esteban Ocon (Alpine), 17. George Russell (Mercedes). DNF: Max Verstappen (Red Bull), Lewis Hamilton (Mercedes). STANDINGS Drivers 1. Max Verstappen (NED) 51 pts, 2. Charles Leclerc (MON) 47, 3. Sergio Perez (MEX) 46, 4. Carlos Sainz (ESP) 40, 5. Oscar Piastri (AUS) 28, 6. Lando Norris (GBR) 27, 7. Fernando Alonso (ESP) 20, 8. George Russell (GBR) 18, 9. Lewis Hamilton (GBR) 8, 10. Lance Stroll (CAN) 7, 11. Oliver Bearman (GBR) 6, 12. Yuki Tsunoda (JPN) 4, 13. Nico Hulkenberg (GER) 3, 14. Kevin Magnussen (DEN) 1. Constructors 1. Red Bull 97 pts, 2. Ferrari 93, 3. McLaren 55, 4. Aston Martin 27, 5. Mercedes 26, 6. RB 4, 7. Haas 4. RESULTS & STANDINGS PITLANE Verstappen rages MAX VERSTAPPEN retired from a race for the first time in two years after a brake issue set his Red Bull car on fire in the Australian Grand Prix. It looked business as usual after the three-time world champion – who won the first two races of the season comfortably – led from pole following a decent start. However, within one lap, Ferrari’s Carlos Sainz overtook the Red Bull around the outside, with Verstappen surprisingly admitting over team radio: “I lost the car, really weird!” And by lap three, Verstappen fell further down the field with smoke pouring out of the rear of his RB20 car. Replays show an issue with the brakes, with the right-rear of the car on fire as he entered the pits to retire. And Verstappen was visibly fuming after exiting his car and in conversation with mechanics in the Red Bull garage. It is the first time Verstappen has retired from an F1 race since the 2022 Australian Grand Prix at Albert Park and means he misses out on equalling his own record of 10 consecutive F1 races. Hamilton reacts after DNF LEWIS HAMILTON reacted to a terrible weekend in Australia after being forced to retire from the race yesterday. Hamilton, who has not won a race in more than two years, endured his worst qualifying in Melbourne in 14 years on Saturday, putting his Mercedes only 11th on the grid. Although Hamilton made up a place early on in the race, by lap 18 the seven-time world champion was finding it difficult to keep his car on the racetrack. Then suddenly, his power unit failed, with Hamilton reporting: “Engine failure!” With championship leader Max Verstappen having retired earlier, it represents a missed opportunity for Hamilton and his Mercedes team at Albert Park. “I think the engine seized. It appeared out of nowhere, it was a split second thing. Massive gap (to Red Bull). I think they have a second from us, the way he (Sergio Perez) pulled down the straight… same as last year!” Ferrari’s Carlos Sainz (2nd right) celebrates with the trophy on the podium after winning the Australian GP along with Charles Leclerc (left) and third placed McLaren’s Lando Norris (right). – REUTERSPIX
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Spain ‘contenders’ at Euros … but head coach De La Fuente says La Roja need time S PAIN coach Luis de la Fuente insists his squad has the “raw materials” to make a title push at Euro 2024 where the former champions will be “contenders”. The 62-year-old talked to AFP ahead of Friday’s 1-0 defeat to Colombia in a friendly international at the London Stadium. As well as discussing the progress of his team, De la Fuente also lamented the arrests this week in a corruption investigation, the latest in a string of scandals that have ensnared the Spanish Football Federation (RFEF). “It is not good for Spanish football that attention is diverted to this other focus,” said De la Fuente. The coach led Spain to Under-19 and Under-21 European titles and Olympic silver medal in Tokyo before taking over the senior team in 2022 and winning the Nations League in June 2023. Spain are one of the six top seeds for the 24-team Euros in Germany this summer. “We are among the contenders who are going to fight for the trophy,” said De la Fuente. “We have to try to live up to expectations and the expectation is we will compete to win. “Winning at this level is very difficult because there are other teams that are well prepared, with very good players.” “We have a very difficult group, with Croatia, Italy and let’s not forget Albania, who topped their group, with a very brilliant coach, with very good players even if they are unknown to the general public,” he said. At the last Euros, Spain beat Croatia in the last 16 but lost to Italy, who took the title, in the semifinals. “Both Croatia and Italy could be fighting for the top, and then you have France, P o r t u g a l , E n g l a n d , Germany,” added the coach. De La Fuente has overhauled the Spain squad. In Friday’s starting lineup only Aymeric Laporte also began Spain’s last game in a major tournament - the round-of-16 loss to Morocco in the World Cup in December 2022. “We have the raw materials to make a great team. What do we need? Time,” De la Fuente said. “I come from a grassroots background. Our commitment, to the people we trust in the youth system, is not a pose, it is a conviction. “Young people who are coached, with talent, with the preparation, with potential, need opportunities. You don’t have to look at age. And there are young players, with potential, who show every Sunday at their clubs that they are ready to compete at the highest level,” he added. – AFP Canada, Costa Rica seal Copa berths CANADA and Costa Rica booked their places at this year’s Copa America yesterday after winning their respective games in a CONCACAF playoff doubleheader in Texas. Canada advanced to the tournament after defeating Trinidad & Tobago 2-0 before Costa Rica came from behind to down Honduras 3-1 at the Toyota Stadium in Frisco. Cyle Larin and Jacob Shaffelburg sealed victory for Canada, who will now face world champions Argentina in the opening game of the Copa America on June 20. “It means a lot for us as a team, I’m happy I scored and to move forward to the Copa America,” Larin said after the win. “It was a good performance by the guys. We knew it was going to be difficult to break them down but we stuck to the game, stuck together and got the win.” Canada’s reward for the victory is a place in Group A of the Copa America alongside Lionel Messi’s Argentina, Peru and Chile. Costa Rica, meanwhile, will line-up in Group D alongside Brazil, Colombia and Paraguay after their 3-1 win over Honduras. The Copa America, South American football’s international championship, has been expanded to include teams from CONCACAF this year and will be staged at venues across the United States. – AFP AUSTRIA’S Christoph Baumgartner scored one of the fastest ever international goals inside seven seconds yesterday and was then quickly followed by a similarly lightning strike by Germany’s Florian Wirtz. Baumgartner, 24, went into the record books during a friendly match against Slovakia in Bratislava. The Leipzig attacker drove through the home defence from kickoff, drifting past three players, before unleashing a 25- metre shot past Martin Dubravka in goal. “We’ve done this variation before, sprinting from kickoff at full risk. The sequence of steps somehow worked out so that I made the run,” Baumgartner told Austrian public broadcaster ORF after the game which his team won 2-0. “Of course it’s really cool, I’m very happy. The fact that I hit it like that… it’s of course sensational.” He added: “I’m especially pleased that I was able to help the team. That’s the most important thing about the goal.” Baumgartner’s strike matched the previous record of seven seconds it took Lukas Podolski to score for Germany against Ecuador in May, 2013. The Austrian FA described Baumgartner’s effort as the fastest goal in the history of international football. “Of course we got off to a really good start, that goal by itself was probably worth the price of admission,” said Austria coach Ralf Rangnick. “After that, we didn’t play a good first half. The second half was much better.” Meanwhile, Wirtz was just as fast off the mark against France in a friendly in Lyon which Germany won 2-0. The Leverkusen player beat ‘keeper Brice Samba with a superb shot under the crossbar. “I don’t think anyone understood or realised what was happening. We were all quite surprised, but there was obviously a lot of joy,” Wirtz told German broadcaster ZDF after his first international goal. “You can’t start a match any better but for it to work so well and lead to this chance to score, it’s great.” The fastest goal scored in a World Cup was by Turkey’s Hakan Sukur against South Korea in 2002 after 11 seconds. – AFP Austria, Germany score two ustria, Germany score two of the fastest goals f the fastest goals Germany’s Toni Kroos (above) in action with France’s Ousmane Dembele. – REUTERSPIX
SPORTS SPORTS MONDAY | MAR 25, 2024 31 All jackpot amounts stated above are for this Draw. Subject to T&Cs of the Scheme. Please visit to www.magnum4d.my for more info. THE BIGGER PLAY IS TO PLAY RESPONSIBLY 016/24 24/03/2024 7622 2637 9677 1638 4992 5210 1091 1767 5576 0944 5855 4892 6892 9185 2080 1459 6274 1119 3466 3679 3821 0605 5216 RM3,870,590.23 RM120,537.62 7622 + 2637 2637 + 7622 9677 + 7622 7622 + 9677 2637 + 9677 9677 + 2637 4 6 8 12 15 19 22 31 18 28 RM6,253,298.37 RM100,000.00 2 2 3 7 7 7 2 2 3 7 7 2 3 7 7 7 2 2 3 7 3 7 7 7 2 2 3 7 7 7 2 2 7 7 3 7 1 6 Harimau Muda lack bite Syahir says absence of several key players hinders squad preparations NATIONAL Under-23 football squad midfielder Syahir Bashah said the absence of several key players has impacted the team’s preparations for the U-23 Asian Cup in Doha, Qatar. He said Mukhairi Ajmal, Azam Azmi Murad, Nooa Laine and Harith Haiqal Adam Afkar could not be with the team for now because they are representing the senior squad in the two matches against Oman in the World Cup 2026/Asian Cup 2027 secondround qualifiers. “It has had a major impact because they are pillars of the U-23 squad. But to me, all players gave their best in the (friendly) match against India the other day. “They deserved the opportunity to play (in the first 11),” he told reporters after a training session with the U-23 squad here yesterday. The Selangor FC player said the other players should take advantage of the temporary absence of the key players to impress coach Juan Torres Garrido to be fielded in the first 11 in future. Apart from another match against India, Harimau Muda will also play China and Qatar in Doha as part of their preparations for the U23 Asian Cup. Last Friday, Harimau Muda edged India 2-1 in their first friendly. The U-23 Asian Cup will be held in Doha from April 15 to May 3. Malaysia, who are in Group D, will play Uzbekistan on April 17, followed by Vietnam on April 20 and Kuwait on April 23. – Bernama PFC beat Geylang 3-0 in friendly PERAK FC thrashed Geylang International FC of Singapore 3-0 in a pre-season international friendly at Perak Stadium last night. Perak FC coach Yusri Che Lah expressed satisfaction with his team’s performance but said there is still room for improvement. “Our main objective was to test our players, especially new faces, at a higher level. There are three more pre-season friendlies and I want to see how the players click,” he told a post-match press conference. Perak FC, who finished 11th in the 2023 Super League, took the lead in the seventh minute through Firdaus Saiyadi, before Muhammad Harith Akif widened the gap in the 33rd minute through a penalty kick. Perak FC’s imported player Adilet Kanyabekov scored with a powerful shot in the 66th minute to wrap up the match for the home team. Geylang head coach Mohd Noor Ali conceded that they lost to a better team, who showed quality with their relentless attacks. Germany defeat wake-up call for France FRANCE were completely outclassed by Germany in their 2-0 defeat on Saturday and should treat the loss as a wake-up call ahead of the European Championship, midfielder Aurelien Tchouameni said. “I think we were outclassed in every department,” Tchouameni told French TV network TF1. “We couldn’t put our game plan in place. We came up against a great team. We need to do better, individually and collectively. “It’s a wake-up call, but there’s no need to overreact either. We are aware of and confident in our qualities.” Striker Olivier Giroud said France could make no excuses for the defeat, telling L’Equipe: “We started the game badly, they caught us cold, we were slow to react and we didn’t score at our best. “In midfield, they tended to find their players between the lines. It’s a reminder that you need to be in the thick of things from the start and for 90 minutes.” Russia-Paraguay friendly called off RUSSIA’S friendly against Paraguay due to be held on Monday has been cancelled after the Moscow concert hall attack that claimed more than 90 lives, the Russian Football Federation said. “Following the attack” the football federations of Russia and Paraguay “decided to cancel the friendly match”, a statement said. The federation said the match could be rearranged at a later date. Messi-less Miami thrashed INTER MIAMI coach Gerardo Martino slammed his star-studded team’s mentality on Saturday after a brutal 4-0 thrashing by New York Red Bulls. Miami, missing the injured Lionel Messi, were torn apart at New York’s Red Bull Arena as former Inter player Lewis Morgan scored a superb hattrick. While Martino accepted his share of the blame for the mauling, the veteran coach pointed the finger at his players, who included high-profile signings Luis Suarez, Sergio Busquets and Jordi Alba. “There is not much to say, except that we were outmatched from start to finish,” Martino said following the drubbing. “Red Bulls had the desire to win and we had no desire to compete. When a team enters a game without the desire to win, without spirit, without competing, and the other side just want to win the game, they are going to win it.” Martino meanwhile refused to blame the absence of Messi for the loss, noting that the team had produced a 3-1 victory at DC United last week without the Argentina superstar. ARSENAL are monitoring English midfielder Morgan Gibbs-White as Nottingham Forest may consider selling the 24-year-old to balance their books. BARCELONA president Joan Laporta said the club rejected an offer of €200m (RM1.02b) for 16-year-old Spain forward Lamine Yamal. SAUDI ARABIAN club Al-Hilal want to buy Brazil winger Raphinha from Barcelona and are willing to offer a deal worth up to €100m (RM509m) for the 27-year-old. NEWCASTLE UNITED want to sign Portugal centreback Goncalo Inacio, 22, and Ivory Coast defender Ousmane Diomande, 20, from Sporting Lisbon but financial restrictions could prevent them. FRANCE forward Kylian Mbappe will not announce his move from Paris St-Germain to Real Madrid while there is still a chance the two teams could meet in the Champions League. JUVENTUS are looking into a move for 22-year-old forward Mason Greenwood, who is on loan at Getafe from Manchester United and whose contract with the Old Trafford club runs out in 2025. EINTRACHT FRANKFURT are unlikely to activate the £8.5m clause to turn 26-year-old Dutch midfielder Donny van de Beek’s loan move from Manchester United into a permanent switch. (Bild, via Goal) MANCHESTER UNITED manager Erik ten Hag believes he still has time to convince club co-owner Sir Jim Ratcliffe to keep him on, despite discussions having taken place about his potential successor. MANCHESTER UNITED will not seek to sign Fiorentina loanee Sofyan Amrabat from Fiorentina, but the 27- year-old Morocco midfielder is a target for AC Milan and Juventus. JUVENTUS centreback Gleison Bremer is Manchester United’s No. 1 summer transfer target, with the 27-year-old Brazil defender having a €50m euros (RM254.5m) release clause in his contract. NAPOLI do not intend to trigger a £7.7m (RM45.9m) option to buy Belgium midfielder Leander Dendoncker, who is on loan at the Italian club from Aston Villa. BARCELONA are keen to tie down 17- year-old defender Pau Cubarsi to a new contract following his first-team breakthrough, amid interest from the Premier League. INTERNATIONAL FRIENDLIES: Zambia 2 Zimbabwe 2 (Zimbabwe win 8-7 on penalties), Malawi 0 Kenya 4, Côte d'Ivoire 2 Benin 2, Slovakia 0 Austria 2, Republic of Ireland 0 Belgium 0, Denmark 0 Switzerland 0, England 0 Brazil 1, Tunisia 0 Croatia 0 AET (Croatia win 5-4 on penalties), France 0 Germany 2. 2024 COPA AMERICA/CONCACAF PLAYOFFS: Canada 2 Trinidad & Tobago 0, Costa Rica 3 Honduras 1. RESULTS TOUCHLINES SHORTS Perak FC’s Muhammad Harith Akif (left) celebrates scoring a penalty during the Pre-Season International Friendly against Geylang. – BERNAMAPIX
theSun is published and printed by Sun Media Corporation Sdn Bhd (221220-K) of Lot 6, Jalan 51/217, 46050 Petaling Jaya, Selangor. Tel: 03-7784 6688 • Tel (Editorial): 03-7784 6688 Fax: 03-7785 2625 Email: newsdesk@thesundaily.com • Tel (Advertising): 03-7784 8888 Email: advertise@thesundaily.com SCAN ME or download app from the App Store or Google PlayTM . www.thesun.my Free access to iPaper PDF Download SCAN ME Malaysian Paper Read iPaper at Malaysian Paper Malaysian Paper Ferrari reigns in Melbourne -Story on page 29 Endrick makes Endrick makes history history … as Brazil beat England to launch new era BRAZIL’S new boss Dorival Junior started his bid to revive the five-time world champions with a 1-0 win against England as teenage sensation Endrick bagged his first international goal in Saturday’s friendly at Wembley. Coming off their worst period for over 60 years, Brazil hope Dorival Junior can trigger a revival in time to challenge for the 2026 World Cup. This was a first significant step in the right direction for the Selecao, who marked their manager’s debut with victory against an England side expected to make a strong challenge to win Euro 2024. On a cathartic evening for Brazil after their wretched 2023, it was fitting the highly-rated Endrick bagged Brazil’s late winner. The Palmeiras forward, due to join Real Madrid in July, has been tipped to succeed Neymar as Brazil’s latest superstar and his matchwinning cameo appearance off the bench was a suitable coming of age moment in his third appearance. Endrick stole the spotlight in the 80th minute when the teenager tapped in, defying England’s appeals for offside after Vinicius Junior’s shot was saved by Jordan Pickford. Aged 17 years and 246 days, Endrick is the youngest senior international goal-scorer at Wembley. He is also the youngest player to score for Brazil since Ronaldo in 1994. “Time will tell how far he can go. We have to be calm and patient with him,” said Dorival Junior. “If he keeps up the attitude he has shown up to now, he will be a very important name in Brazilian football and world football,” Dorival said when asked about the teenage prodigy who is due to join Real Madrid from Palmeiras in July. He said he opted to bring Endrick off the bench rather than the more experienced Richarlison because the Tottenham Hotspur player was still recovering his form after an injury. “It’s a really special moment, for sure,” Dorival told reporters. “On only a few occasions has a Brazil side won in England which must say something about us. But we must not lose sight of the fact that this is just the start of our work. “I have a lot of trust in these boys,” he said. “I am hoping for a lot more from this team, but I think this shows what we are capable of going forward.” Brazil will aim to build on the momentum from their first win over England since 2009 in another friendly against Spain on Wednesday (4.30am Malaysian time). England boss Gareth Southgate hailed “lots of very good performances” from his England players – their first loss since the 2022 World Cup. The home side, one of the favourites for Euro 2024, impressed in spells but lacked a cutting edge against their disciplined opponents at Wembley and had some shaky moments in defence. Defeat is a blow for Southgate, who has just the one more match, against Belgium on Wednesday (3.45am), before he names his squad for Euro 2024 in Germany. “There were lots of very good performances,” Southgate told Channel 4. “It is a top-level game and we have controlled long parts of it. “We had as many attempts as them on goal but in the end it is that ruthless moment that decides the game. “We’ve had a lot of players go on, a couple of debuts and some really important individual performances for us.” England were without several key players including captain Harry Kane and Arsenal’s Bukayo Saka through injury. But Newcastle forward Anthony Gordon impressed on his debut while Aston Villa defender Ezri Konsa and Manchester United’s teenage midfield prodigy Kobbie Mainoo won their first caps as substitutes. “Tonight was the best day of my life,” Gordon told the BBC. “I envisioned it a bit different with a win and a goal. I thought we were the better team but we lacked that cutting edge that they had at the end. “This is my long-term dream I have had. To achieve it means everything to me.” He added: “We have to find a way of killing teams and putting them to the sword when we get the chance.” Adding to Southgate’s problems, England’s stand-in captain Kyle Walker was forced off with a hamstring injury. – AFP/Reuters -Story on page 30 Spain ‘contenders’ Red Bull’s Max Verstappen (centre) comes out after smoke billowing from his car during the F1 Australian Grand Prix at Albert Park Circuit in Melbourne yesterday. –AFPPIX at Euro 2024 MONDAY | MAR 25, 2024 Brazil’s Endrick (front centre) celebrates scoring their first goal with teammates during their International Friendly match against England at Wembley Stadium yesterday. – REUTERSPIX